Tencent Is Going Public: The Music Streaming Industry Heats Up

0 | By Wall Street Insights and Indictments Staff

Just this morning, Chinese tech giant Tencent Music Entertainment Group (NYSE:TME) made its public debut, opening at a price of $14.10. The question now is, can Tencent compete with the already popular streaming services like Spotify Technology S.A. (NYSE:SPOT) and Apple Inc. (NasdaqGS:AAPL)? Shah Gilani says that now’s a terrible time to come to the market, and that the stock isn’t worth a buy.

On the latest episode of Varney & Co., the hot topic right now is whether Teresa May’s vote will move the markets. Shah says, yes, it’s going to have an effect on British markets and move the European stocks. Then, Netflix Inc. (NasdaqGS:NFLX) beat everyone else at the renewal game, coming out on top with the highest renewal rates of any other like service. The stock’s on fire and shows no signs of slowing down…

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