I think there's still too much uncertainty for SE to be a "screaming buy" even here after the plunge. Management is clearly intent on spending more money to gain market share in the next 3-4 quarters at least. There's no visibility to margins or upward inflection. Strong competitors all around. Will BABA's Lazada increase competitive pressure in SE Asia once it spins off from the parent co? Will PDD's Temu enter SE Asia at some point?
I think there's still too much uncertainty for SE to be a "screaming buy" even here after the plunge. Management is clearly intent on spending more money to gain market share in the next 3-4 quarters at least. There's no visibility to margins or upward inflection. Strong competitors all around. Will BABA's Lazada increase competitive pressure in SE Asia once it spins off from the parent co? Will PDD's Temu enter SE Asia at some point?