TME Stock Summary and Trading Ideas (Tencent Music Enter Gr | NYSE:TME)

Tencent Music is the largest online music service provider in China. It was founded in 2016 with the business combination of QQ Music (founded in 2005), Kuwo Music (founded in 2005) and Kugou Music (founded in 2004) streaming platforms. Tencent is the largest shareholder of TME with over 50% shares and over 90% voting rights held. TME also provides social entertainment services, including music live audio/video broadcasts and online concert services through the three platforms mentioned above, and online karaoke through an independent platform WeSing.

Tencent Music Enter Gr trades on the NYSE stock market under the symbol TME.

As of February 5, 2025, TME stock price declined to $11.75 with 5,664,709 million shares trading.

TME has a beta of 0.55, meaning it tends to be less sensitive to market movements. TME has a correlation of 0.02 to the broad based SPY ETF.

TME has a market cap of $19.85 billion. This is considered a Large Cap stock.

Last quarter Tencent Music Enter Gr reported $1 billion in Revenue and $.16 earnings per share. This beat revenue expectation by $19 million and missed earnings estimates by -$.01.

In the last 3 years, TME traded as high as $15.77 and as low as $2.95.

The top ETF exchange traded funds that TME belongs to (by Net Assets): KWEB, VXUS, VWO, IEMG, MCHI.

TME has outperformed the market in the last year with a price return of +30.4% while the SPY ETF gained +23.7%. However, in the short term, TME had mixed performance relative to the market. It has underperformed in the last 3 months, returning +4.4% vs +6.4% return in SPY. But in the last 2 weeks, TME shares have fared better than the market returning +5.9% compared to SPY +0.2%.

TME support price is $11.68 and resistance is $12.34 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TME shares will trade within this expected range on the day.