Tencent (TCEHY) has gone from $60 to $40 as (1) Chinese stocks are down 15% this year and (2) China isn’t approving video games.
Tencent’s (TCEHY) earnings estimates got cut this qtr, like many of the Chinese Internet stocks. Now at $49, the stock is 20% off its highs.
TenCent (TCEHY) stock was on fire last year — it went parabolic. Now the stock could be starting a downtrend as the profit outlook isn’t so perfect.
TenCent (TCEHY) operates the popular WeChat, a version of Whatsapp that’s big in China and the Asian Pacific region. TCEHY went from $24 to $51 in 2017 and is in rapid growth mode.
TenCent’s (TCEHY) up 10% in the last week alone — taking its 2017 gain to more than 100%. But now the question is: does the stock have upside in 2018?