TME drawdown: 72.1% below the all-time high
Tencent Music Entertainment Group American Depositary Shares each representing two (TME) is 72.1% below its all-time high, set Mar 23, 2021 (as of market close, Aug 17, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (2018).
- Below all-time high
- −72.1%
- 27.9% of ATH
- All-time high
- $31.79
- Mar 23, 2021
- Time below the high
- 5.4 yrs
- since Mar 23, 2021
- Worst-ever drawdown
- −90.2%
- Mar 14, 2022
- Longest underwater
- 5.4 yrs
- between all-time highs
- Today's level first reached
- Dec 12, 2018
- 7.7 yrs ago
- Last time this deep
- never before
- no prior −72.1% episode
% of all-time high since 2018#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of TME, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Mar 23, 2021 | Mar 14, 2022 | −90.2% | 12 mo | not yet | 5.4 yrs+ |
| Mar 18, 2019 | Mar 23, 2020 | −50.5% | 12 mo | Dec 30, 2020 | 1.8 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2018: how far TME stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: TME is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is TME from its all-time high?
- TME is currently 72.1% below its all-time high, set Mar 23, 2021 (as of market close, Aug 17, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest TME drawdown ever?
- The deepest decline on record in our data (since 2018) took the stock 90.2% below its prior high, bottoming Mar 14, 2022. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 2018 (split-adjusted). "All-time" means since our price data begins — TME may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.