Why Shares of Xunlei Are Soaring Today

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.

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.

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Source Fool.com