
Tencent Shares Up 8% after Report of Online Ad Revenue Growth in Q4 2022
As a high-growth-oriented company, Tencent is charting a very ambitious path to grow its revenue over time.
As a high-growth-oriented company, Tencent is charting a very ambitious path to grow its revenue over time.
With the easing of pressure from authorities, Tencent shares may still see additional upshoots when compared to the level it is currently at this time.
Chinese tech heavyweight Tencent saw its shares decline markedly following reports that the firm could be hit with a massive fine for violating anti-money laundering rules
While the recent updates by Chinese authorities have affected the companies as of now, analysts assess that this directive might not have a very significant impact on China’s gaming giants as such.
Tencent claims that with Minishop merchants would not be charged for opening their virtual stores. And there are no service charges either.
Tencent stock price is moving higher and the company has good chances to be ranked as the biggest Asian company.
Tencent (TCEHY) stock is aiming to break above the 2018 and all-time high of around $58. The rise is bolstered by the strong balance sheet in the first three months of 2020.
Alibaba and Tencent stocks indicate resilience amid the coronavirus stock market effect. China, the first country to be hit by the deadly coronavirus in early December, now aims to be a stabilizing force in the global market.