Sea Shares Soar After It Makes Headway in Fight With Alibaba
Southeast Asia e-commerce leader Sea Ltd. predicted sales volumes for this year above analysts’ estimates, a signal it’s succeeding in fending off hard-charging rivals including TikTok and Lazada.The company’s American depositary receipts jumped as much as 7.1% in New York after Sea saidBloomberg Terminal gross merchandise volume, or the value of goods sold, will rise about 20% at online retail arm Shopee. That suggests GMV of $120.6 billion, topping the $116.6 billion average analyst estimate. ...
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