Tencent (TCEHY) Stock Is Under Pressure as Prosus Trims Its Stake

56
Comment
Favorite

Tencent (TCEHY) Stock Is Under Pressure as Prosus Trims Its Stake

InvestorPlace2022-06-28

Tencent(TCEHY) stock is down on news that one of its largest shareholders is trimming its stake.However, the share sale is not happening because of any problems at Tencent.TCEHY stock is down 17% year...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

MSTAN
·2022-06-28
👌👌
Reply
Like
Report
Peter phung
·2022-06-28
Bargain buy
Reply
1
Report
Singman
·2022-06-28
Like
Reply
1
Report
T202311701
·2022-06-28
Ooo
Reply
1
Report
Ahsiang
·2022-06-28
Chiong ar
Reply
2
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1137514466?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-06-28 10:13","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1137514466","market":"hk","top_or_hot":-1,"title":"Tencent (TCEHY) Stock Is Under Pressure as Prosus Trims Its Stake","media":"InvestorPlace","content":"<div>\n<p>Tencent(TCEHY) stock is down on news that one of its largest shareholders is trimming its stake.However, the share sale is not happening because of any problems at Tencent.TCEHY stock is down 17% year...</p>\n\n<a href=\"https://investorplace.com/2022/06/tencent-tcehy-stock-is-under-pressure-as-prosus-trims-its-stake/\">Source Link</a>\n\n</div>\n","source":"lsy1606302653667","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tencent (TCEHY) Stock Is Under Pressure as Prosus Trims Its Stake</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTencent (TCEHY) Stock Is Under Pressure as Prosus Trims Its Stake\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-06-28 10:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://investorplace.com/2022/06/tencent-tcehy-stock-is-under-pressure-as-prosus-trims-its-stake/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Tencent(TCEHY) stock is down on news that one of its largest shareholders is trimming its stake.However, the share sale is not happening because of any problems at Tencent.TCEHY stock is down 17% year...</p>\n\n<a href=\"https://investorplace.com/2022/06/tencent-tcehy-stock-is-under-pressure-as-prosus-trims-its-stake/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PROSY","symbol_name":"Prosus NV","start_time":0,"source_url":"https://investorplace.com/2022/06/tencent-tcehy-stock-is-under-pressure-as-prosus-trims-its-stake/","article_id":"1137514466","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1137514466","pubTimestamp":1656382398,"sourceInfo":{"source_id":"lsy1606302653667","name":"InvestorPlace"},"weMediaInfo":null,"summary":"Tencent(TCEHY) stock is down on news that one of its largest shareholders is trimming its stake.Howe","collect":0,"end_time":0,"defaultTopTitle":"investorplace.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"PROSY":"Prosus NV","TCEHY":"腾讯控股ADR","00700":"腾讯控股"},"translate_title":"腾讯控股股价承压，Prosus减持股份","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"00700":0.9,"PROSY":0.9,"TCEHY":0.9},"content_text":"Tencent(TCEHY) stock is down on news that one of its largest shareholders is trimming its stake.However, the share sale is not happening because of any problems at Tencent.TCEHY stock is down 17% year-to-date (YTD) at about $48 per share.Tencent(OTCMKTS:TCEHY) stock is slumping today on news that one of its largest shareholders, Prosus(OTCMKTS:PROSY), has started to trim its stake in the Chinese tech giant.Prosus, which is one of the largest tech investors in the world, is selling shares of Tencentto fund its own share buyback program. Prosus currently holds a 28.9% stake in the company worth roughly $136 billion. However, Prosus itself is worth less than its stake in Tencent. The buyback program is aimed at boosting Prosus stock and the company’s market value.TCEHY stock is down 3.99% on news. Meanwhile, PROSY stock which is down 21% YTD, is up 13.18% today.What’s Happening with TCEHY Stock?In a news release, Prosus CFO Basil Sgourdos said the following about the company’s share sale:“This will efficiently unlock immediate value for shareholders because we’re selling (Tencent) shares at full value and we’re buying back our stock at a considerable discount.”Tencent says it supports Prosus’ plan. The company also believes the share sale will have a “limited” impact on its own stock price. Prosus plans to undertake a maximum sale of between 3% and 5% of Tencent’s daily trade volume.Prosus’s plan does come unexpectedly, however. Last year, the tech investment company said that it would not sell any further TCEHY stock after unloading 2% of its holdings, worth $15 billion. In addition to Tencent, Prosus has also sold $3.67 billion worth of shares of Chinese tech giantJD.com(NASDAQ:JD).Many TCEHY stock investors are viewing this latest sale negatively because they see it as a lack of confidence in Tencent. Conversely, PROSY stock investors like that the technology investor is buying back its own stock. That’s because the move will help boost its share price by reducing the number of shares outstanding.PROSY stock has dropped over the past year as its holdings of Chinese tech stocks have taken a beating amid the market selloff and government crackdown. Looking forward, Prosus says it is also “in talks to sell its stake” in Russia’s Avito. That company was valued at $6 billion before Russia invaded Ukraine.What’s Next for Tencent?Although TCEHY stock is down slightly today, the long-term impact of the share sale shouldn’t be too bad. Of course, it’s never good when a major shareholder trims its stake. But the reality is Prosus will continue to be one of the largest owners of Tencent stock. Investors should not take the sale as an indicator of any fundamental problems with the company itself.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9046754737,"gmtCreate":1656391071229,"gmtModify":1676535820526,"author":{"id":"4089461104605170","authorId":"4089461104605170","name":"MSTAN","avatar":"https://static.itradeup.com/news/1d0ff53a35c30afecbd1fa0c5ed59f07","vip":1,"crmLevel":4,"crmLevelSwitch":0},"htmlText":"👌👌","listText":"👌👌","text":"👌👌","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046754737","repostId":1137514466,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9046785933,"gmtCreate":1656386320522,"gmtModify":1676535819808,"author":{"id":"4117571226380062","authorId":"4117571226380062","name":"Peter phung","avatar":"https://community-static.tradeup.com/news/dc42924edc9bbc697cf662fddb59f98b","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Bargain buy&nbsp;","listText":"Bargain buy&nbsp;","text":"Bargain buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046785933","repostId":1137514466,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9046711473,"gmtCreate":1656384626692,"gmtModify":1676535819518,"author":{"id":"3575125836760247","authorId":"3575125836760247","name":"Singman","avatar":"https://static.tigerbbs.com/d770feb757705f2d631d2d5f381ae07b","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like","listText":"Like","text":"Like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046711473","repostId":1137514466,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9046738257,"gmtCreate":1656383630579,"gmtModify":1676535819192,"author":{"id":"4115257325505790","authorId":"4115257325505790","name":"T202311701","avatar":"https://community-static.tradeup.com/news/816311e9879fbae4e952e2a5386f68ca","vip":1,"crmLevel":9,"crmLevelSwitch":0},"htmlText":"Ooo&nbsp;","listText":"Ooo&nbsp;","text":"Ooo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046738257","repostId":1137514466,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9046739993,"gmtCreate":1656383195612,"gmtModify":1676535819129,"author":{"id":"3582617881962608","authorId":"3582617881962608","name":"Ahsiang","avatar":"https://static.tigerbbs.com/310f96e7696af85ae33ece774a483d15","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Chiong ar","listText":"Chiong ar","text":"Chiong ar","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9046739993","repostId":1137514466,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":56,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}