ESports
Free Fire's parent company suffers loss in US stock market after Indian ban
Sea Ltd saw a decline of 18.56 in the New York Stock Exchange after its unexpected ban in India.
Free fire's parent company Sea ltd face huge loss in US stock market
Free Fire's parent company, Sea Ltd is plummeting in the US market due to the gaming apps sudden ban in India.
On February 14, 2022, the Indian Government banned 54 Chinese apps that posed a threat to the country's national security. Among the famous battle royale game was one of the apps on the banned list.
Sea Ltd which is the parent company of Garena (the publisher of Free Fire), saw a decline of 18.56 in the New York Stock Exchange after its unexpected ban in India.Sea Ltd's stocks were already facing a tough time in the market and India's ban on Free Fire has made things worse for the company.
The multi-player battle royale game was the most famous mobile game in India and had around 40 million active users in the country.
The ban has come as a surprise to many as both Sea Ltd and Garena are Singapore-based companies, and hence people are confused about the government's decision to ban the app. Even though many have lost hopes about the ban being lifted, some players still expect the app to be re-launched again in the country.
However, Garena has not released an official statement regarding the app being unbanned in the future.
