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For Southeast Asian tech giant Sea Ltd, 2023 has been a year of contradictions. After posting big losses for a long time, Sea actually became profitable this year. Through the first nine months of 2023, Sea reported net income of $274 million, which is a considerable improvement compared to its $2 billion net loss over the same time period in 2022.
And yet, the stock has dropped throughout the year and is currently hovering around $35 a share. At the peak of the stock market’s wild run in 2021, Sea was trading at over $350 a share even…