Tencent Holdings Ltd. amassed a 5% stake in electric carmaker Tesla Inc. in March, according to a filing with the Securities and Exchange Commission on Tuesday. The Hong Kong-based Internet company said it bought about 8.2 million shares in an offering and on the open market for about $1.8 billion. Tesla shares jumped 3% premarket after the filing was published, and are up 26% in the year so far, while the S&P 500 has gained 4.6%.
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