Core Viewpoint - Tencent Music (TME.US) is expected to halt a three-day decline in stock price, with a pre-market increase of 1.34%. Despite exceeding Q3 performance expectations, concerns over competition, particularly from ByteDance's subsidiary, are pressuring the stock. Citigroup maintains a "Buy" rating, highlighting TME's transition towards a more robust social music ecosystem, which may initially impact gross margins but is expected to drive sustainable growth in the long term [1]. Group 1 - Tencent Music's stock price increased by 1.34% in pre-market trading, indicating a potential end to a three-day decline [1]. - Citigroup's report emphasizes that despite strong Q3 results, market concerns about competition are affecting TME's stock performance [1]. - The report suggests that TME is evolving into a higher barrier social music ecosystem, which may initially affect gross margins due to investments in live concert operations [1]. Group 2 - TME's stock closed at $18.680, with a pre-market price of $18.930, reflecting a change of +0.250 [2]. - The stock's trading volume was 15.259 million, with a market capitalization of $28.934 billion [2]. - TME's 52-week high and low are $26.700 and $10.132, respectively, indicating significant volatility in its stock price [2].
美股异动丨腾讯音乐盘前反弹 有望止步3连跌行情 花旗重申“买入”评级