Why These 15 Software Stocks Are Skyrocketing So Far in 2025

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5. Xunlei Ltd (NASDAQ:XNET)

Number of Hedge Fund Holders In Q3 2024: 3

Xunlei Ltd (NASDAQ:XNET) is a tech company that provides distributed cloud services.

The stock is up significantly as it announced a RMB500 million ($70 million) acquisition of Shanghai Kuanghui Internet Technology (Hupu). This is China’s premier sports media platform and the move will integrate Hupu’s 150 million active users with Xunlei’s cloud infrastructure.

Plus, Xunlei reported 99% year-over-year revenue growth TTM. They estimate Q4 2024 revenues to be between US$77 million and US$82 million.

XNET stock is up 78.39% year-to-date.

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