Tencent Has Lost About $34 Billion

LEGEND67

LEGEND67

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The recent ban on the popular mobile game PUBG Mobile has hit the Indian gaming community hard, but not as much as the game’s developer Tencent. According to a report, the Chinese tech giant has lost $34 billion in terms of market value, just a day after the ban on 118 Chinese apps in India. Apart from PUBG Mobile, Arena of Valor, Chess Run, and Ludo World have also been blocked, all of which have an association with Tencent.
Ever since the announcement of the ban, Tencent’s stocks have been dipping continuously going from HK $545 to HK $519. Recently Tencent faced a big blow after the company’s WeChat app was banned last month in the US on grounds of national security.
 
I would not like to be one of their investors right now. That is a crazy amount of money to lose in terms of value. I do wonder if there will be some other ramifications after this
 
I won't want to invest in Tencent stocks as a stableinvestment.

But, I feel some people with more money may invest in Tencent as a longer term investment where the market value can rise in the future if they release a game, website, and mobile app which becomes a massively popular, or PUBG becomes unbanned in India, and Wechat is unbanned in the US.
 
Demon_Skeith said:
how the *beep* do you lose 34 billion in one day? :o
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I think the game bans in India, and Wechat ban in the US made Tencent lose a lot of market value.

It is a Chinese company which may cause fewer people to use Tencent games and apps because of fear of Chinese Communist spying on their phone, and PC microphone, webcam, and typed text.
 
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