NVDA
NVIDIA
-- 149.430 TSLA
Tesla
-- 411.050 FUBO
FuboTV
-- 5.060 PLTR
Palantir
-- 75.920 AMD
Advanced Micro Devices
-- 129.550 
Shorting Tencent?
Yesterday’s announcement that Dutch technology investment company Prosus, and Naspers, which holds 28.78 per cent stake in $TENCENT(00700)$ , would gradually sell their shares, led to a fall of 2.5% to HK$374.60. The stock last traded down 1.3 per cent, the third biggest percentage decliner in the Hang Seng Tech Index.
The decision comes after Prosus NV reported a 20% fall in annual core headline earnings and announced a major share repurchasing programme. To fund the programme Prosus will gradually sell down its massive 28.9 per cent stake in Chinese software giant Tencent, owner of WeChat, worth more than $100 billion at current prices.
Despite the fall in shares, Tencent could still be a worth investment to look into. Tencent launched an all-in-one cloud product for domestic and overseas automakers in China, “Tencent Intelligent Automobile Cloud” with features ranging from storing data in a way optimized for training autonomous driving systems to giving drivers access to Tencent’s social media and map apps. Tencent hopes to be foreign automakers’ go-to company for tech in China’s electric car market in the world’s largest auto market, in which electric car sales have surged. With Tencent’s new product they are already working with 40 auto brands, including BMW and SAIC.
With Tencent’s dominance in some of the top entertainment and social media apps, the user interface could be a major selling point for China’s drivers.
Will you be shorting Tencent ? Let me know what you think!
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