10 Best Global Stocks To Buy Now

3. Sea Limited (NYSE:SE)

Number of Hedge Fund Holders In Q2 2024: 63

Sea Limited (NYSE:SE) is a Singapore based technology company that operates in the Asian Pacific eCommerce, financial services, and content streaming industries. This provides the firm with one of the fastest growing markets in the world. However, Sea Limited (NYSE:SE) is also operating in a highly competitive market in which giants such as TikTok also operate. Sea Limited (NYSE:SE) is facing a lot of competition from TikTokSea Limited (NYSE:SE) in one of its biggest markets, Indonesia. Despite this, the stock has performed well over the past 12 months and has gained 125%. Moving forward, Sea Limited (NYSE:SE)’s hypothesis is dependent on its eCommerce platform Shopee turning operating income positive, the gross merchandise volume (GMV) that flows through its platform, and the user growth for its digital content platform. Sea Limited (NYSE:SE) benefits from diversification as while eCommerce operating income can be a tough nut to crack, content streaming provides some stability.

Artisan Partners mentioned Sea Limited (NYSE:SE) in its Q2 2024 investor letter. Here is what the fund said:

“Sea rose during the quarter due to growing evidence of a stabilizing competitive environment, potential improvement in its Free Fire gaming franchise, and strong quarterly results with improving profitability.”