Is VNET Group Inc - ADR (VNET) Stock About to Get Hot Friday?

The market has been down on VNET Group Inc - ADR (VNET) stock recently. VNET gets a Bearish score from InvestorsObserver Stock Sentiment Indicator.

VNET Group Inc - ADR has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on VNET!

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What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With VNET Stock Today?

VNET Group Inc - ADR (VNET) stock is trading at $5.54 as of 12:48 PM on Friday, Sep 30, a rise of $0.21, or 4.04% from the previous closing price of $5.32. The stock has traded between $5.29 and $5.69 so far today. Volume today is light. So far 700,318 shares have traded compared to average volume of 1,770,730 shares.

More About VNET Group Inc - ADR

VNET started as AsiaCloud in 1999, subsequently it moved to the data center business with its first self-developed data center opening in 2010. The company listed (as 21Vianet) on the Nasdaq in April 2011, subsequently changing its name to VNETGroup in 2021. It originally focused on providing data center services such as colocation and cloud services to retail clients in China but added hyperscale customers in 2019 and now counts large Chinese hyperscalers such as Alibaba Cloud, Tencent Cloud, Huawei Cloud and JD Cloud as customers. At the end of June 2022 it had 75,773 self-built cabinets with the majority in Beijing, Shanghai, and Greater Bay area. Click Here to get the full Stock Report for VNET Group Inc - ADR stock.