Tencent Music Entertainment Group - ADR (TME) Stock: What Does the Chart Say Tuesday?

Tuesday, August 02, 2022 10:41 AM | InvestorsObserver Analysts

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Tencent Music Entertainment Group - ADR (TME) stock has fallen 10.34% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Tencent Music Entertainment Group - ADR has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on TME!
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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. 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 is higher by 3.37% while the S&P 500 is lower by -0.39% as of 10:40 AM on Tuesday, Aug 2. TME has risen $0.13 from the previous closing price of $3.86 on volume of 3,533,584 shares. Over the past year the S&P 500 has fallen -6.49% while TME is lower by -63.33%. TME earned $0.24 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 16.54. To see InvestorsObserver's Sentiment Score for 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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