The aftermath of President Trump's executive order was felt immediately, as Tencent Holdings' stock dropped as much at 10% in the Hong Kong morning session on Friday. It bounced back slightly for a 7% loss after U.S. officials clarified that the ban only refers to the WeChat app, not its parent company.
But the 7% loss was enough to wipe out over $35b in Tencent value. Whether or not Trump intended to punish Tencent doesn't matter anymore, they're feeling the affects of it.
Tencent holds minority shares in Spotify (and vice-versa), UMG, Warner and Sony, along with a good chunk of the international gaming industry.
NEAR TRUTHS: EXPECT THE UNEXPECTED
One name keeps popping up amid the Roan-related speculation. (11/25a)
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NOW WHAT?
We have no fucking idea.
COUNTRY'S NEWEST DISRUPTOR
Three chords and some truth you may not be ready for.
AI IS ALREADY EATING YOUR LUNCH
The kids can tell the difference... for now.
WHO'S BUYING THE DRINKS?
That's what we'd like to know.
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