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https://www.barrons.com/articles/jd-com-stock-sinks-after-tencent-divests-16-4-billion-stake-51640257194

JD.com Stock Sinks After Tencent Divests $16.4 Billion Stake

By
Pierre Briançon
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Tencent Holdings, the Chinese social-media and gaming giant, said Thursday it would reduce its stake in JD.com and distribute $16.4 billion in JD stock as a dividend to shareholders.

JD.com (ticker: JD) shares fell by more than 7% Thursday. Tencent (700.HongKong) shares were up 4% on the news. The stock is down nearly 40% since its January high.

The...

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