Why Shares of Xunlei Are Soaring Today

Why Shares of Xunlei Are Soaring Today

China’s president had some positive things to say about Blockchain technology.

Timothy Green

What happened

Shares of Xunlei (NASDAQ:XNET) rocketed higher on Monday following comments by President Xi Jinping of China that were supportive of blockchain technology. The stock was up 30.7% at 12:15 p.m. EDT today.

So what

Late Friday, China’s state-owned Xinhua News Agency reported that Xi said China will boost investment in Blockchain technology. Those comments came after he chaired a study session last week focused on developing the Blockchain industry.

A coin with a B on the face.

Image source: Getty Images.

Shares of Xunlei, which describes itsel

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