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The stock has lost 13% in price over the past month to close yesterday’s trading session at $310.74.
In addition, BofA Analyst downgraded the rating for SE from Buy to Neutral and reduced the earnings estimates for fiscal 2022 and 2023 from a $3.1 and $1.05 loss per share, respectively, to a $5.72 and $4.45 loss per share. Furthermore, SE is selling shares for business expansion and other general corporate purposes, including potential strategic investments and acquisitions, leading to share dilution. So, SE’s near-term prospects look bleak.
