--- title: "What's Going On With VNET Stock On Wednesday?" type: "News" locale: "en" url: "https://longbridge.com/en/news/286288250.md" description: "VNET Group, Inc. (NASDAQ:VNET) shares rose 28.44% to $11.59 on Wednesday after announcing strategic investors PJ Millennium I and II will acquire a 38.1% stake through a share purchase agreement. The investment, priced at $1.44 per share, is expected to close in Q4 2026, pending shareholder approval. Despite mixed broader market conditions, VNET's bullish trend is supported by a current price above its 20-day SMA of $8.83. Analysts anticipate revenue of $390 million for the next earnings report on May 26, 2026, with a strong valuation but weak momentum indicators." datetime: "2026-05-13T15:30:01.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286288250.md) - [en](https://longbridge.com/en/news/286288250.md) - [zh-HK](https://longbridge.com/zh-HK/news/286288250.md) --- # What's Going On With VNET Stock On Wednesday? Shares of **VNET Group, Inc.** (NASDAQ:VNET) are trading higher on Wednesday, following news of new strategic investors entering the company. The stock’s movement comes as VNET announced that **PJ Millennium I Limited** and **PJ Millennium II Limited** have entered into a share purchase agreement to acquire nearly 650 million shares at approximately $1.44 per share, equivalent to $8.69 per American Depositary Share (ADS). The new investment is expected to close in the fourth quarter of 2026, pending shareholder approval. This move will allow the buyers to hold approximately 38.1% of the total issued shares of VNET, which could significantly influence the company’s strategic direction. As of December 31, the aggregate amount of the company’s cash and equivalents, restricted cash and short-term investments was $941.1 million. “Looking ahead, we will work closely with our strategic partners to deepen collaboration across technology and supply chains, and to jointly advance original, end-to-end innovation across the next generation of the AIDC industry,” said Interim CEO **Josh Sheng Chen**. Despite the positive news for VNET, broader market conditions are mixed today. The Russell 2000 is down 0.33%, while the S&P 500 is slightly up by 0.04%. This divergence suggests that VNET’s gains are primarily driven by company-specific news rather than overall market momentum. ## Technical Analysis VNET’s current price of $11.60 is significantly above its 20-day simple moving average (SMA) of $8.83, indicating a bullish trend. The stock is currently 28.9% above the 20-day SMA, reflecting strong momentum. The relative strength index (RSI) sits at 53.01, suggesting that the stock is in a neutral zone, neither overbought nor oversold. This positioning indicates that while the stock has momentum, there is still room for further upside without immediate concerns of a pullback. **Key Support**: $9.04 — aligns with the 50-day SMA, providing a potential floor for the stock. **Key Resistance**: $12.00 — a nearby level where rebounds can stall. ## Earnings & Analyst Outlook Investors are looking ahead to the next earnings report on May 26, 2026. - **Revenue Estimate**: $390 ## Benzinga Edge Rankings Below is the Benzinga Edge scorecard for VNET Group, highlighting its strengths and weaknesses compared to the broader market: - **Value**: 72.73 — Indicates a relatively strong valuation compared to peers. - **Momentum**: 39.72 — Stock is underperforming the broader market. **The Verdict:** VNET Group’s Benzinga Edge signal reveals a value-oriented setup with strong valuation metrics but weak momentum indicators. This suggests that while the stock may be attractively priced, it faces challenges in maintaining upward momentum in the near term. ## Price Action **VNET Stock Price Activity:** VNET Group shares were up 28.44% at $11.59 at the time of publication on Wednesday, according to Benzinga Pro data. ### Related Stocks - [VNET.US](https://longbridge.com/en/quote/VNET.US.md) - [SRVR.US](https://longbridge.com/en/quote/SRVR.US.md) - [DAT.US](https://longbridge.com/en/quote/DAT.US.md) - [IDGT.US](https://longbridge.com/en/quote/IDGT.US.md) - [XDAT.US](https://longbridge.com/en/quote/XDAT.US.md) - [DTCR.US](https://longbridge.com/en/quote/DTCR.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) ## Related News & Research - [VNET Announces New Strategic Investors | VNET Stock News](https://longbridge.com/en/news/286258984.md) - [This Is Why VNET Group Stock (VNET) Rallied Today](https://longbridge.com/en/news/286275573.md) - [Former Data Center-Laggard VNET Seizes China's AI Moment With CATL Tie-up](https://longbridge.com/en/news/286947964.md) - [VNET Announces Changes to Leadership Team | VNET Stock News](https://longbridge.com/en/news/283348661.md) - [BOX (BOX) Expected to Announce Earnings on Tuesday](https://longbridge.com/en/news/286864296.md)