JD.com Tanks 9% On Tencent's Decision To Reduce Stake In Company

Shares of Chinese e-commerce company JD.com (JD) are trading down 9 percent on Thursday after tech company Tencent Holdings announced that it would reduce its stake in JD.com and distribute $16.4 billion in JD stock as a dividend to shareholders.

Currently at $67.63, the stock has traded between $61.65 and $108.29 during the past 52 weeks.

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