Tech News: Coinbase’s Global Expansion, Shopee Ending Operations, and More

Today’s video focuses on recent news affecting technology stocks. Here are some highlights. 

  • Gaming is a market that many big tech companies are pursuing. Netflix (NFLX -4.97%) recently acquired another gaming studio to increase its catalog of casual games. Unfortunately for U.S. consumers, price hikes for Netflix are expected to go live in the next few weeks as the company continues to build its entertainment library. 
  • Amazon (AMZN -0.88%) is another big tech company having a strong gaming year, releasing two popular titles, New World and Lost ARK. Unfortunately, Mike Frazzini, the boss of Amazon’s gaming studio, is stepping down to spend more time with family.
  • Shopee, the e-commerce business of Sea Limited (SE -0.95%), has reported terminating its India operations only a few months after ending its operations in France. The stock price was down on the news, as management mentioned global market uncertainties were a driving force for the decision. It is important to note that Shopee had only launched an initiative operation in India. 
  • Coinbase (COIN -3.62%) stock popped on Monday in response to reports that it is closing on a deal to acquire 2TM, the parent of Mercado Bitcoin, a Brazilian cryptocurrency brokerage. Mercado Bitcoin has grown in popularity and even received investments for Mercado Libre (MELI 0.48%) in early January 2022. 

Click the video below for my full thoughts and analysis. 

*Stock prices used were the premarket prices of March 28, 2022. The video was published on March 28, 2022.

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