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.
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