Sea Limited (NYSE:SE) shares fell more than 6% on Wednesday after a report suggested that TikTok, owned by Chinese tech conglomerate ByteDance (BDNCE), is attempting to go after the Indonesian e-commerce market.
TikTok would be able to freely collaborate with any e-commerce platforms as long as it abides by applicable rules in Indonesia, state news agency Antara reported, citing Deputy Minister of Trade Jerry Sambuaga.
Why did Sea Limited stock go down today? Blame TikTok. comes via ChinaTechNews.com.