Sea Ltd announced their earnings on 1st Mar 2022. Initial premarket prices rose by 9%, but minutes later, Sea’s share price fell by 20%! We explore why: Note: Snapshot of initial premarket prices initially pointed to an increase of 9%. Minutes later, Sea’s share price declined by 20%. Sea Ltd (Sea) (NYSE:SE) has seen one of the most spectacular declines since it raised $6.3 billion in a share and convertible bond sale in Southeast Asia’s largest ever capital raising in September 2021. The capital raising consisted of 11 million shares priced at $318 and a $2.5 billion aggregate principal amount of convertible senior notes due 2026 at 0.25%. The conversion price of the note is approximately $477 per share. The capital raising was done at a small discount to the last traded price and share price actually went up to a high of $372 in late October 2021 before it started its decline....