Here's why we bought Tencent stock recently. Check out our research report!
Shares of Chinese internet giant Tencent Holdings Limited (OTCPK:TCEHY) (OTCPK:TCTZF) are down roughly 19% off of their highs since the stock peaked in mid-February. In this article, we'll explain why we think this is currently a great buying opportunity.
Tencent is one of the biggest companies in the world. Yet, if you mention the name "Tencent" to any regular person not living in China, chances are likely that they'd never heard of it. It doesn't have the household name fame like Facebook, Inc. (FB), but it is just as high-quality of a company and almost as big.
Tencent is sometimes referred to as the Berkshire Hathaway (BRK.B) of China. Although Tencent mainly invests in tech companies, it is somewhat of an appropriate nickname for it because like Berkshire, Tencent is a big conglomerate company. It has invested in over 800 companies and 160 of them are unicorns (companies worth over $1B).
Its proven management team and investment strategy have made the stock go up close to 1000x since its IPO in 2004 and we still believe more gains are coming. Click here to find out why.
*This is a premium seeking alpha article, so we can’t fully post it here.*