Why Tencent Music Entertainment Plunged Almost 30% This Week

Shares of Tencent Music Entertainment (NYSE: TME) fell 28.8% this week through 3:30 p.m. Friday, according to data from S&P Global Market Intelligence. Tencent Music is sometimes regarded as the "Spotify (NYSE: SPOT) of China," since it's the leading streaming music subscription service in the country. However, Tencent Music's business is a bit different, as it also generates revenue from social music interactions, such as karaoke tipping and other interactive services. Will AI create the world's first t ...