The rise of Sea Ltd. gives investors the chance to buy in on what could be a dominant tech platform in Southeast Asia, according to investment firm Bernstein.
The Singapore-based company has seen its U.S. shares rise 36% in 2021 and nearly 170% over the past 12 months. Its first quarter sales jumped more than 90% year over year.
Analyst Venugopal Garre initiated coverage of the stock with an outperform rating, saying in a note to clients on Wednesday that the company was a “super app in the making.”
