The Sea Limited E-Commerce Platform Will Cease Operations in India.

A recent news story affects technology stocks in today’s news. Let’s take a look. 

  • Tech giants are expanding into the gaming market. In order to expand its catalog of casual games, Netflix ( NFLX 3.74% ) has acquired another gaming studio. U.S. consumers should expect price hikes for Netflix in the coming weeks as the company continues to expand its library of entertainment content. 
  • It is also releasing two popular games this year, New World and Lost ARK, from Amazon ( AMZN 0.24% ). However, the boss of Amazon’s gaming studio, Mike Frazzini, will be stepping down to spend more time with his family.
  • Several months after terminating its operations in France, Shopee, the company’s e-commerce business, has ended its operations in India. Management mentioned that global market uncertainties had driven the decision, which caused the stock price to fall. The Shopee initiative had only just begun in India. 
  • On Monday, Coinbase ( COIN 0.45% ) stock soared after reports that it would acquire 2TM, the parent company of Mercado Bitcoin, a Brazilian cryptocurrency brokerage. In early January 2022, Mercado Libre ( MELI 2.31% ) received investments for Mercado Bitcoin. 

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