Stock Track | Tencent Music Plummets 5.02% Intraday Following Macquarie Downgrade

Stock Track

03/06

Tencent Music Entertainment Group (TME) shares plummeted 5.02% during intraday trading on Thursday, as the stock faced significant selling pressure.

The sharp decline followed a downgrade by Macquarie, which cut its rating on Tencent Music to Neutral from Outperform. The firm set a price target of $14.10 for the stock and cited emerging competitive pressure from Soda Music as a key concern.

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