I've been calling for SE short since the very week that it made the peak. My last 2 calls were for 1 short and 1 technical rebound. Well, the rebound did not invalidate the long-term SE short call. I've also voiced my opinion that Shopee's cost cutting is a little too little, too late. As of now, nothing changes. But the cost to rectify gets heavier everyday for them. Previously I had said that a 30% pay cut across the board might be necessary, now, it's probably closer to 50%. But then, this is just my guesstimate. No fundamental analysis whatsoever. With the impeding breakdown and crash of SE together with the general market, it seems evitable that more of the multi-millionaire and billionaires may no longer enjoy such fame much longer.
My previous price target of <$40 stays. But, I think now <$25 is maybe a more precise estimate.