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A Singaporean tech stock has skyrocketed a world-beating 1,100% since the start of 2019

Aug 5, 2020, 18:56 IST
Business Insider
Reuters / Scott Olson

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  • Singaporean tech giant Sea's stock has ballooned more than 1,100% since the start of 2019.
  • The astounding gain has raised its market capitalization from about $5 billion to $64 billion.
  • Sea's stock has outperformed every other company worldwide with at least a $1 billion market capitalization over the past 18 months, according to Bloomberg.
  • Visit Business Insider's homepage for more stories.

A Singaporean tech stock has skyrocketed more than 1,100% since the start of 2019, boosting its market capitalization from about $5 billion to $64 billion.

Sea's NYSE-listed shares have ballooned from about $11 at the start of last year to more than $137 today.

Its stock performance over the past 18 months has surpassed every other company worldwide with an initial market capitalization of at least $1 billion, according to Bloomberg.

For comparison, Tesla stock has surged about 380% over the same period, while Shopify has soared 685%.

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Read More: MORGAN STANLEY: The government's recession response has the stock market heading for a massive upheaval. Here's your best strategy to capitalize on the shift.

Sea, the company behind mobile game "Free Fire" and the Shopee online-shopping platform, grew its revenue by more than 160% to about $2.2 billion last year.

However, sharp increases in costs meant its net loss widened by more than 50% to roughly $1.5 billion.

Tencent has been one of the biggest beneficiaries of Sea's breathless rally. The Chinese media giant behind QQ and WeChat owns more than 20% of the company.

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