Why Tencent Stock Was Falling Today
Shares of Tencent (OTC: TCEHY), the Chinese tech giant and owner of the WeChat superapp, were tumbling Monday after the U.S. Department of Defense listed the company as a Chinese military entity in a Federal Register filing.
Such a move could carry significant implications for Tencent on trade, technology, and intellectual property, so it's not surprising that its stock fell in the wake of that news. As of 1:36 p.m. ET, Tencent shares were down 9.7% for the session.
Image source: Getty Images.
Source Fool.com
Tencent Holdings Ltd. Stock
€54.20
-0.550%
Our community is currently high on Tencent Holdings Ltd. with 6 Buy predictions and 3 Sell predictions.
On the other hand, the target price of 50 € is below the current price of 54.2 € for Tencent Holdings Ltd., so the potential is actually -7.75%.
