We recently published a list of Why These 10 Stocks Soared by Double Digits Today. In this article, we are going to take a look at where VNET Group, Inc. (NASDAQ:VNET) stands against other stocks that soared by double digits today.
The stock market kicked off the trading week brimming with optimism after the US and China announced a tariff truce on each other’s goods.
The tech-heavy Nasdaq booked the largest gains among the three major indices, rallying 4.85 percent. The S&P 500 followed with a 3.26-percent increase, and the Dow Jones, with 2.81 percent.
Over the weekend, the US and China reached a 90-day deal to lower tariffs on each other’s imports. US taxes on Chinese imports will drop to 30 percent from 145 percent previously, while China’s tariffs on US imports will drop to 10 percent from 125 percent earlier.
Beyond the major indices, 10 companies finished the week stronger, booking double-digit gains during the day. In this article, we name Monday’s 10 top performers and detail the reasons behind their strong performance.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A close up image of a application hosting server with the company’s branding on it.
VNET Group, Inc. (NASDAQ:VNET)
VNET Group snapped a five-day losing streak on Monday as investors resorted to bargain-hunting to take advantage of its cheap valuation while cheering news of the US and China’s tariff truce.
While the ceasefire between the two countries does not directly impact VNET Group, Inc., it plays a crucial role in bolstering investor sentiment and economic environment, factors that are expected to spill over into businesses.
VNET Group, Inc. is a China-based technology firm primarily focused on providing internet data center services and related infrastructures, including those that support artificial intelligence. Based on its historical reporting dates, the company is expected to release the results of its first quarter earnings performance in the first week of June 2025.
In its last earnings call, VNET Group announced higher capital spending this year on the back of robust demand for its wholesale services. It underscored that it would work closely with its strategic suppliers and maximize the synergies to ensure that its capital spending would grow at a steady pace.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
This article is originally published at Insider Monkey.