Unbeknownst to complacent investors, three stocks fell sharply in the last week. Sea (SE), an e-commerce, fintech, and gaming firm based in Singapore (originally headquartered in Shanghai, China), lost nearly one-third of its value. Competition with Tencent (TCEHY) in gaming and Alibaba (BABA) in e-commerce is intensifying.
Weak visibility could send SE stock lower from here.
In the U.K., startup Farfetch (FTCH), an online retailer of luxury goods, posted a loss of 21 cents a share (non-GAAP). Revenue fell by 1.3% Y/Y to $572.09 million. The firm is running out of cash ($750 million). Sadly, its customers have less cash as inflation continues in the double-digit percentage. FTCH stock lost half its value last week, closing at $2.61.
REITs are supposed to offer dividend income for high yield and safety. Medical Properties (MPW) does not. Short-sellers have a 21.07% short interest against the firm. The WSJ posted a damaging piece that claimed that MPT would put its deal with Prospect Medical on hold. In May, Prospect, a tenant, received $375 in new financing.
On Aug. 17, MPT sold $105 million of its interest in Steward Health Care Systems.
