Tencent Music Entertainment Group (NYSE:TME) has recently caught the attention of Jim Cramer, who discussed it during his lightning round segment. A caller brought up the stock’s drop from over $26 to approximately $23, prompting Cramer to respond:
“You know what? We’ve seen good returns from that stock. We’re moving forward. When it comes to China, we’re focusing on BABA. That’s about all there is to say.”
Photo credit: Joshua Mayo via Unsplash
Tencent Music Entertainment Group (NYSE:TME) operates a range of music services, including streaming, karaoke, long-form audio, and live streaming through various platforms such as QQ Music, Kugou, Kuwo, and WeSing. The company’s revenue streams include subscriptions, advertising, digital music sales, merchandise, concerts, and artist management services. It’s worth noting that Cramer previously discussed TME following its IPO in December 2018. He stated:
“The political risks are significant, even though the company isn’t directly affected by tariffs. If you believe that trade negotiations could yield a solid agreement, this could be the Chinese stock worth considering.”
While we recognize TME’s investment potential, we feel certain AI stocks present greater upside with lower risk. For those interested in discovering a highly undervalued AI stock poised to gain from recent tariffs and the trend towards onshoring, check out our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article was originally published at Insider Monkey.
