Sea CEO Emails Employees Post Humongous Plunge In Market Value

Sea Ltd SE CEO Forrest Li recently acknowledged its $150 billion value loss since late 2021 to its employees via email, Bloomberg reports.
Citing the meltdown as short-term pain, Li instilled hope by admitting its strong internal position and clarity over its next steps.
Li defended the decision of continued growth spending for the next few years rather than pursuing profitability to appease shareholders.
Related Content: Sea Ltd's Stock Tanks Post Q4 Results; Warns On Near Term Headwinds Impacting Digital Entertainment Business
Sea suffered considerable setbacks in 2022. Sea's biggest backer Tencent Holdings Ltd TCEHY, looked to trim the stake after India banned Sea's most popular mobile game, reflecting geopolitical tensions.
Sea's latest earnings results also disappointed the market.
Fund managers and employees also urged Sea for higher transparency regarding its strategy and numbers.
Price Action: SE shares traded up by 0.45% at $91.45 in the market sessio on the last check Monday.