Hottest Stock on the Nasdaq Is a Chinese Company With Its Own Cryptocurrency
Xunlei best performing stock in Nasdaq Composite since Oct. 12
Shares rally on launch of Wanke cryptocurrency project
Jun Luo, Jacob Gu and Ludi Wang
A little bitcoin fairy dust is making a relatively obscure Chinese internet company the hottest stock in the Nasdaq Composite Index.
On Oct. 12, Xunlei Ltd., a Shenzhen-based provider of online media services, introduced its “Wanke coin mining” cryptocurrency project. Since then, its American Depository Receipts have rallied more than 350 percent, making it the best performer in the Nasdaq over that time.