Why Tencent Music’s Stock Price Has Fallen and Can’t Get Up

Chinese music streaming company Tencent Music Entertainment (TME) was minding its own business in March — showing off strong 2020 earnings and announcing a partnership with Warner Music Group — when it was blindsided by one of 2021’s oddest financial stories.
Out of nowhere, TME shares plummeted 29% — from $32.25 on March 23 to $22.84 the following day. As of Tuesday (April 20), when TME shares closed at $16.99, it had fallen a stee