(Bloomberg) — Everything now appears to be going right for Xiaomi Corp., the Chinese smartphone maker whose stock failed to gain traction following its 2018 initial public offering.Shares have surged a record 59% this month, hitting all-time highs as larger rival Huawei Technologies Co. deals with U.S. restrictions intended to crimp adoption of the company’s 5G wireless technology. This week’s second-quarter report showed Xiaomi’s phones are making inroads in China, helping profit more than double. And an electric vehicle maker that Xiaomi invested in soared 41% in its U.S. debut on Thursday.About 20 brokerages have raised their stock-price targets on …read more
Source:: Yahoo Finance
