XNET earnings call for the period ending December 31, 2019.
News & Analysis: Xunlei
The Chinese tech company reported earnings and a writedown of an equity investment.
China's president had some positive things to say about blockchain technology.
Xunlei's cloud business is evaporating, and it's not clear what's next for the company.
Has the cloud and blockchain services company gotten its groove back?
Revenue is falling off a cliff.
With its cryptocurrency ambitions abandoned and its cloud business evaporating, things look bleak for Xunlei.
After climbing nearly 300% in 2017, Xunlei stock is down roughly 70% this year -- and its cloud business appears to be evaporating.
Xunlei closed the door on its cryptocurrency last month, and the stock is now down nearly 60% year to date.
The cloud and blockchain company's stock is still up roughly 265% over the past year despite big selloffs in 2018.
Xunlei stock had a big month in April and is up roughly 270% over the last year.