Tencent ‘s stock price rose more than 20 times from the end of 2011 to its peak in 2021. The pressure of public opinion, coupled with the short winter of the game business, and the first decline in QQ users in 2011, caused Tencent ‘s stock price to drop sharply between 20.Īfter the crisis, Tencent decided to adopt an opening and sharing strategy after which its social superapp WeChat was officially born.
In July 2020, unfair competition between Tencent and Qihoo 360 began. After the financial crisis, Tencent ‘s share price exceeded HK$176.5 in January 2010, and its market value jumped to HK$250 billion, surpassing Yahoo and becoming the third largest Internet company in the world after Google and Amazon.Īt that time, Tencent relied on the advantage of user scale to expand rapidly. Before this round, it had experienced sharp stock price drop twice both before and after the 2008 financial crisis. It is rare for Tencent to see a sharp drop of more than 30% since its listing. Chinese media outlet WAVE believes that the reasons behind the decline in Tencent ‘s share price include liquidity problems in Hong Kong stocks, regulatory concerns in the Internet field, reductions of holdings by major shareholders, as well as the company’s own weak growth. It fell more than 60% from its historical high at the beginning of 2021 and now only has a market value of only HK$2.43 trillion. On October 12, Tencent ’s share price fell below HK$250, hitting a new low since November 2018.
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