/biz/ - Business & Finance

HOLY FUCK
>US Department of Defence adds Xiaomi to a list of "Communist Chinese military companies" to be blacklisted by a Trump executive order
>On January 14th, when there were just 6 days left in his term
>blacklisting prevents amerifats from owning Xiaomi shares. stock has tanked 25% since then
>Xiaomi open a lawsuit at end of January, to refute this
YOU ARE HERE
>big development in case today
>US Department of Defence's reason for adding Xiaomi to the list, was their CEO got a meaningless ceremonial award from the Chinese Ministry of Industry and Information Technology in 2019
>IT'S FUCKING NOTHING
>CEOs of Weibo and NetEase got the same award and nothing happened
>they were just scared of "Big chinese tech company" and rushed them onto the blacklist for no reason
>Xiaomi are gonna win the lawsuit and go to the fucking moon
https://finance.yahoo.com/news/us-blacklisted-xiaomi-citing-alleged-171255785.html