$TENCENT (00700.HK)$ Tencent has been buying back it's own s...
$TENCENT (00700.HK)$ Tencent has been buying back it's own shares from August to September daily with 2.7 millions shares worth hk1 billion every day for more than 30 days when the share price is between hk360 to hk390 for the total amount worth more than hk30 billions, after the share price surge past hk400 then it pause the share buyback for a few days. But after the share price go above hk450, it resume share buyback on 3/10 again at smaller qty, yesterday it bought back 541000 shares at Ave price of hk457 and today 4/10, it bought back 291000 shares at Ave price of hk468, the buyback price is higher and higher and if Tencent continues to buyback at even higher price I predict the share price will go past hk500 in a near future when it announce it's 3rd qtr result on 13/11,Tencent all time high is hk750 set in 2020/2021.this counter is a long term hold investment because Tencent reported excellent result last qtr with profit up 85%.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment