Why Is Everyone Talking About Tencent Stock?
Tencent's (OTC: TCEHY) stock has declined about 40% over the past six months. A barrage of negative headlines may have left some investors wondering if they should abandon the stock -- or, on the flip side, buy it on the dip. Why is everyone talking about the besieged Chinese tech giant?
After China's State Administration for Market Regulation (SAMR) fined Alibaba (NYSE: BABA) $2.75 billion for anticompetitive behavior in April, many investors assumed Tencent would be the next target.
In late April, Reuters claimed the SAMR was getting ready to fine Tencent $1.54 billion. The government hasn't dropped that hammer yet, but it's issued Tencent several smaller fines of 500,000 yuan ($77,400) apiece for previously unapproved investments and acquisitions.
Source Fool.com
