PROSY - This Tech Company Is Looking Pretty Smart Right Now After the Coronavirus Plunge
In the current market downdraft, investors may be thinking about what kinds of businesses will benefit from the stay-at-home economy. Those could be companies to put on your watch list right now as the market tries to find its footing.
One interesting candidate is Chinese tech giant Tencent (OTC: TCEHY). It's known for its vast online video game empire and WeChat, the Chinese social media "super app" that allows its customers to do just about every task in Chinese daily life, from socializing, to playing videos, to paying bills. In addition, Tencent also owns one of the largest streaming video services in China, and its Tencent Pay is one of two dominant payments companies in a vast duopoly with Alibaba. Tencent is also growing its cloud computing division, where it also lags behind Alibaba but is gaining fast.
However, the stock that's looking pretty smart right now isn't Tencent, but rather another company that owns 31% of Tencent: Naspers (OTC: NPSNY).