21Vianet Group Announces Another $100 Million Private Placement, Stock Hits New Highs


Chinese carrier and internet data services provider 21Vianet Group (NASDAQ: VNET) is the most popular tech stock after the company made a major announcement earlier this week. The company announced on Monday that it has entered into an agreement to purchase convertible note purchase agreements with a collection of investors.

21Vianet Group (NASDAQ: VNET) announced that it is going to sell and issue these notes for a total value of $100 million to these investors. This is in addition to the private placement of $100 million worth of convertible noted that had been announced last week. The news proved to be positive, and the 21Vianet stock soared by 5% on the back of the news yesterday and made a new 52-week high of $15.65 in Tuesday’s trading session.

Popular Tech Stock: 21Vianet Group (NASDAQ: VNET)

The 21Vianet Group stock has had a highly impressive run in 2020 so far and has gained in excess of 100%. The impressive rally in the stock can be traced back to the end of December 2019 when 21Vianet Group (NASDAQ: VNET) signed an agreement with Chinese e-commerce giant Alibaba. The company announced that it is going to work on the second phase construction of the IDC Service located in East China. The two parties signed a memorandum of understanding, and the construction is supposed to be completed by June 2020.

Popular Tech Stock: iQSTEL, Inc. (OTC: $IQST)

Another stock that could be in focus in March is that of telecom services provider iQSTEL, Inc. (OTC: $IQST), which has also started working in the 5G space.

The stock soared by as much as 25% yesterday, and since February 18, the iQSTEL stock has managed to rally by 585%. This past Friday, it emerged that iQSTEL, Inc. (OTC: $IQST) has been invited to an exclusive interview at the influential NASDAQ Marketsite that is going to take place in New York.

The interview in question is going to take place on March 25, and the event could provide the company with a lot of exposure. It could also allow it to showcase the range of 5G offerings that it has an offer for its clients. Investors could keep an eye on this stock over the coming weeks.

Source: Stock Market Press

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