Xiaomi’s victory over the United States did not go unnoticed: the company’s shares skyrocketed

Xiaomi’s victory over the United States did not go unnoticed: the company’s shares skyrocketed

Xiaomi Group shares are up 8.79% on the Hong Kong stock market this morning. They later rose 10.55% to $ 3.24. At the same time, the market value of the company increased to $ 8.2 billion.

On Friday, US District Judge Rudolph Contreras backed Xiaomi by barring the Department of Defense from restricting US investment in the Chinese smartphone maker. At the same time, American investors retained the right to buy Xiaomi securities.

Later, Xiaomi officially announced that the electronic products produced by the company were intended for ordinary consumers. The inclusion of Xiaomi in the list of Chinese military enterprises was a masterful and unfounded decision by the Ministry of Defense. The US District Judge agrees with Xiaomi’s position on this matter. Rudolph Contreras added that Xiaomi will probably win this case in the end.

Xiaomi went public on July 9, 2018. At the time, Xiaomi’s Hong Kong share price was set at $ 2.19. At that time, the market value of the company was $ 3.1 billion.

Xiaomi’s victory over the United States did not go unnoticed: the company’s shares skyrocketed

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