Founder and CEO, Forrest Li, started Sea Limited (NYSE: SE) in 2009 as a gaming platform, Garena. He then launched Shopee in 2015 as an online marketplace to connect buyers to sellers. Its Paypal-like SeaMoney allows many unbanked citizens in Southeast Asia to make purchases online with many merchants across the region.
You can refer to the attached comprehensive report from CIMB on its recommendation on Sea Limited to understand on the rationale of their recommendation. CIMB has a target price of US$315.
https://www.straitstimes.com/business/from-scrappy-shophouse-entrepreneur-to-ceo-of-internet-giant-sea
On its daily chart, Sea Limited had been on a strong uptrend since March 2020. CoVid-19 had been good to its business as more people play games and shop online, but this is not just a short-term reaction but a systemic shift in consumer behavior that is likely continue as global economy picks up pace.
Currently, %R at oversold region offer investors an opportunity to add on to Sea Limited to participate on its growth.
Disclaimer:
This is an opinion piece. Please always do your own due diligence on the company's fundamentals & assess if the Fundamental / Technical analysis opinions are applicable to your trading/investing needs.
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