What's Going On With Sea (SE) Stock Today - Sea (NYSE:SE)

Sea Limited (NYSE:SE) shares gained on Monday over reports of a pay boost.
Sea's founder declared a 5% pay hike for most employees starting July, signaling a turnaround for the e-commerce and gaming business after years of bleeding losses.
Workers who joined on or before March 31 will get the salary bump, Bloomberg cites Forrest Li's internal memo.
He said Sea has reached "self-sufficiency" as its cash balance is increasing rather than shrinking every quarter, months ahead of a target set last year.
The hike marked a reversal from just a few quarters ago when Li surprised investors with a company-wide salary freeze and deep layoffs.
Sea took brutal measures last year, including cutting thousands of jobs, retreating from significant markets, and slashing over $700 million from quarterly sales and marketing expenses.
In 2022, Sea slashed close to 3,500 people from its workforce.
"The external environment is still a challenging one," Li said. "With self-sufficiency, we have a foundation for strong growth once again."
Price Action: SE shares traded higher by 4.58% at $82 premarket on the last check Monday.

What's Going On With Sea Stock Today