Folks, don't forget that SE market cap is less than 1.7X next year GMV (sales on Shopee)! Plus Garena itself could be valued as much as its current market cap. There is a reason, all analysts have much higher targets.

Hopefully they would drive their topline revenue growth much higher to absorb their massive Selling & Marketing expenses, or curtail their Selling & Marketing expenses while also keeping up with their growth. This would result in massive profits$Sea Ltd(SE)$