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