Why Shares of Xunlei Are Soaring Today

0
8
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

Read More

Leave a reply