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14

Battered Tencent Looks for Bottom After $150 Billion Wipeout

By Tony Seruga

Games gaint has tumbled more than 25 percent since January
Tencent still can’t draw on the potential of marquee games

Investors in Tencent Holdings Ltd., once the hottest stock in Asia, are trying to figure out where the bottom is.

The Chinese internet giant, best known for its popular games and ubiquitous messaging services, has shed more than $150 billion in market value since a January peak, the biggest wipeout of shareholder wealth worldwide. Some $15 billion evaporated on Tuesday after regulators told the Shenzhen-based company to remove Monster Hunter: World from its PC downloads service just days after the action title’s debut…

Battered Tencent Looks for Bottom After $150 Billion Wipeout

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