Let’s take a look at these questions about Tencent:
1. Has Tencent fallen much since June 27 when the major shareholders announced the reduction of their holdings?
There is no doubt about it: from June 27 to the present (October 14), Tencent has fallen by 34.11%. In terms of absolute decline, it has fallen painfully enough.
2. Did Tencent fall more than other Internet companies during this period?
1. From the graph of “Relative Growth of Historical Stock Price (Pre-Resumption)” below, including $Tencent Holdings(00700)$ , $Alibaba-SW(09988)$ , $JD.com Group-SW(09618)$ During this period, the trend of 8 major Internet companies all fell, and the overall downward trend of the Internet industry was obvious;
2. From the table of “Historical stock price-statistics (pre-resumption)” below, up to now (October 14), whether it is “the decline in the last 7/14/30/90 trading day” or “Naspers since the reduction of holdings” In terms of decline”, Tencent is not among the biggest losers, even slightly better than the average .
3. Why did Tencent fall so much?
There are many reasons for the fall, and many golfers and articles have analyzed it before. I divide these reasons into two categories here:
1. External factors: related to the entire Internet industry
1) International: The return of the US dollar caused by the interest rate hike of US stocks, the harvest of global assets, and the decline of Hong Kong stocks;
2) International: The game of audit papers for China Concept Stocks continues;
3) Domestic: The epidemic continues and the economy is under pressure;
3) Domestic: the aftermath of policy regulation;
2. Internal effect: only related to Tencent
1) Major shareholders reduce their holdings;
2) The growth rate of main business performance (games, advertising) has declined, and “growth stocks have become value stocks”;
3) The intrinsic value of investment assets shrinks;
4) External competition: Douyin, Kuaishou, etc.;
Judging from the above data, the Internet industry is in a downward trend as a whole. Other Internet leaders without major shareholders’ reductions have fallen no less than Tencent. Tencent’s decline in the past six months is relatively more affected by external factors ;
Of course, these external factors have been reflected in the end, or are expected to be reflected in the internal consequences , resulting in the deterioration of Tencent’s fundamentals, which is directly reflected in the decline in the stock price;
The possible reversal of Tencent in the future will most likely depend on the improvement and reversal of external conditions, which will lead to an improvement in the fundamentals of internal effects.
Tencent’s advantage is that its traffic advantage is still unshakable, its cash and talent reserves are sufficient, and it has taken the initiative to reduce costs and increase efficiency to deal with the current predicament, and it is more resilient; There can be new breakthroughs in the direction of games and so on.
[Data collation and analysis is not easy, please comment, like and follow]
Tencent related articles:
Tencent cash flow statement dismantling
Talking about Tencent’s Deferred Revenue
Tencent Mobile Games 2022Q1 Performance Forecast
Share-Tencent Historical Database Widget
Tencent elite soldiers are in progress
The future of Tencent advertising
Digging Hidden Treasures-Tencent 2022 Quarterly Report Nuggets
“Reasonable” or “Unexpected” – Should Tencent Buy Back?
Interpretation of Tencent 2021 Annual Report Data
20 times in ten years, what is the driving force behind Tencent’s rapid growth
Talking about why Tencent repurchases while increasing equity incentives
In-depth interpretation of changes and changes in Tencent’s equity incentive plan
Tencent Game Empire 2021 Inventory
Digging out “hidden” treasures – Tencent’s mid-term dividend, JD.com
Does Tencent’s mid-term dividend have to be ex-righted, and how?
@Today’s topic #Snowball star plan#
This topic has 16 discussions in Snowball, click to view.
Snowball is an investor’s social network, and smart investors are here.
Click to download Snowball mobile client http://xueqiu.com/xz ]]>
This article is reproduced from: http://xueqiu.com/8108653112/232815498
This site is for inclusion only, and the copyright belongs to the original author.