Sea Shares Hit a $71 52-Week Low as Technical Signals Stay Weak

Sea Limited (SE) touched a 52-week low of $71 as its shares stayed below key moving averages, extending a decline that has left the stock sharply behind the broader U.S. market this year.

Sea was down about 42.94% year to date, while the S&P 500 was up about 11.37%.

The low followed Sea shares’ 5.65% decline on Oct. 19, when the stock closed at $88.47.

Technical indicators showed the shares below key moving averages and in a near-term bearish trend. The relative strength index (RSI) had recovered modestly, while the moving average convergence/divergence (MACD) showed a bullish crossover. Overall momentum remained weak.

Chairman and CEO Forrest Li raised the possibility of a public listing for Monee, Sea’s digital financial services business.