Xunlei Ltd. (XNET.US) fell off our radar screen long ago, after the company largely ditched its original video streaming services and made a move into the cloud with a shared-resources business model that looked interesting but failed to generate much excitement. In that process, the company’s market value dipped below the $100 million mark, under which we generally don’t follow listed companies.
But the stock has come roaring back lately, living up to its name that means “thunder” in Chinese, harkening back to its days when it was at the forefront of China’s online video revolution. The shares have risen more than fivefold over the last year, including a 96% jump over the last three days after the company released its latest earnings report for the second quarter, giving it a market value of $550 million.