From MoneyWeek · · 1m 10s
Sea Limited's market surge and crash
Sea Limited's stock soared to $350+ in 2021 before collapsing as pandemic spending ended.
In brief
Sea Limited's stock soared to $350+ in 2021 before collapsing as pandemic spending ended. Sea Limited's stock value dropped 80% in one year after rising to $350+ in 2021. Originally reported by MoneyWeek.
Sea Limited's 2021 peak
Sea Limited reached $350 per share in late 2021 with a market value of almost $200 billion.
Forrest Li's gaming start
Forrest Li founded Garena in 2009 to distribute computer games across southeast asia through cybercafes.
Shopee launch in 2015
Forrest Li launched Shopee in 2015 for small sellers offering inexpensive everyday goods.
Free Fire's impact
Free Fire attracted over 100 million daily players in 2017, generating profits without physical goods costs.
Pandemic boom for Sea
Sea expanded into new markets and raised $6 billion in 2021 as pandemic spending surged.
2022 crash
Sea faced weaker gaming profits, Shopee losses, and collapsed investor confidence in 2022.
2023 turnaround
Sea reported its first quarterly net profit in early 2023 after cutting spending and jobs.
2025 growth
Sea's revenue rose 36% to $22.9 billion in 2025 with net profit of $1.6 billion.
What it means
Sea Limited's stock value dropped 80% in one year after rising to $350+ in 2021.
