- Sea Ltd (NYSE: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 (OTC: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.
