Tencent Share Price Falls Below HK$250, A New Low
On October 12, $TENCENT (00700.HK)$ ’s share price fell below HK$250, hitting a new low since November 2018. It fell more than 60% from its historical high at the beginning of 2021 and now only has a market value of only HK$2.43 trillion.
The reasons behind the decline in Tencent‘s share price include liquidity problems in Hong Kong stocks, regulatory concerns in the Internet field, reductions of holdings by major shareholders, as well as the company’s own weak growth.
It is rare for Tencent to see a sharp drop of more than 30% since its listing. After the 2008 financial crisis, Tencent‘s share price exceeded HK$176.5 in January 2010, and its market value jumped to HK$250 billion, surpassing $LY (ADR) (YAHOY.US)$ and becoming the third largest Internet company in the world after $Alphabet-A (GOOGL.US)$ and $Amazon (AMZN.US)$ .
Tencent hopes that WeChat’s short video and livestreaming platform, WeChat Channels, and overseas games are able to shoulder the heavy responsibility of growth. By the middle of this year, WeChat Channels had 813 million daily active users, surpassing $ByteDance (FT0001)$ Douyin’s 680 million. In the third and fourth quarters of 2021, Tencent‘s overseas game business grew by as much as 20% and 34%.
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HopelessChi : China is a gone case example in history to carefully destroying its growth. when the west HF exited aggressively, is a key sign, there isn't a trust in how they operate anymore. worse is yet to come. advocating selling all china holding to narrow losses
whqqq HopelessChi : Have you sold all your Chinese shares?![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
HopelessChi whqqq : holding as the red is too deep but doing inverse long short of china equity till 1 catalyst is formed for uptrend. as of now. going 20 years is not mission impossible
whqqq HopelessChi : 1 catalyst? it refer to?
HopelessChi : China welcome the external investor. no more crackdown. concluded. we will pump stimulus as CN and HK stocks are beaten to 11 years old. sorry. I am dreaming.