Why Tencent Rose Today
Shares of Chinese big tech stock (OTC: TCEHY) rallied today, increasing as much as 3.4%, before settling into a more modest 0.7% gain as of 2:43 p.m. ET.
Tencent is arguably China's best technology company. It owns WeChat, China's dominant 1.39 billion-user social media network; is China's leading mobile game publisher; owns fintech leader TenPay; and is the country's leading video and music streaming platforms. In addition, Tencent is one of China's leading cloud software companies, and is building its own artificial intelligence (AI) large language model, called HunYuan.
Tencent reported strong earnings today that beat on both the top and bottom lines. Although the stock rallied into today ahead of the print, its continued rise and modest valuation still bodes well for investors.
Source Fool.com
Tencent Holdings Ltd. Stock
Currently there is a rather positive sentiment for Tencent Holdings Ltd. with 6 Buy predictions and 3 Sell predictions.
However, we have a potential of -12.43% for Tencent Holdings Ltd. as the target price of 50 € is below the current price of 57.1 €.
