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How Will the Market React to Tencent Music Entertainment Group

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Wednesday, October 11, 2023 12:07 PM | InvestorsObserver Analysts

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How Will the Market React to Tencent Music Entertainment Group - ADR (TME) Stock Getting a Bullish Rating

Overall market sentiment has been high on Tencent Music Entertainment Group – ADR (TME) stock lately. TME receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Sentiment Score - ,bullish
Tencent Music Entertainment Group – ADR has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on TME!

What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.

Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.

InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.

The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What’s Happening With TME Stock Today?

Tencent Music Entertainment Group – ADR (TME) stock has gained 1.95% while the S&P 500 has fallen -0.05% as of 12:03 PM on Wednesday, Oct 11. TME has gained $0.13 from the previous closing price of $6.68 on volume of 4,266,804 shares. Over the past year the S&P 500 has risen 20.58% while TME has gained 68.56%. TME earned $0.40 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 16.94.

To screen for more stocks like Tencent Music Entertainment Group – ADR click here.

More About Tencent Music Entertainment Group – ADR

TME is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.

Click Here to get the full Stock Report for Tencent Music Entertainment Group – ADR stock.

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