Why Shares of 21Vianet Group Are Tumbling Today
Shares of Chinese data center services provider 21Vianet Group (NASDAQ: VNET) slumped on Wednesday after the company announced that it had divested two business units. The drop in the stock price mostly erases Tuesday's surge. At 11:30 a.m. EDT, 21Vianet stock was down about 15%.
The business units divested by 21Vianet were within the company's managed network services business. 66.67% of the equity interest in each of six wholly owned companies engaged in content delivery network services, hosting area network services, and route optimization was sold to Beijing TUS Yuanchuang Technology Development Co. for a token RMB 1. The company still owns a 33.33% stake in each business.
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Source: Fool.com
21Vianet Group Inc. ADR Stock
€5.90
-13.490%
Our community is currently high on 21Vianet Group Inc. ADR with 5 Buy predictions and 2 Sell predictions.
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