Do you know why Xiaomi's stock has been stuck for so long? Now it’s time to talk about it. Before entering the car industry, in January 2021, as the Trump administration was about to end, the U.S. Department of Defense added Xiaomi to its list of Communist Chinese Military Companies, mainly restricting U.S. investors from buying or holding Xiaomi securities. Xiaomi’s stock steadily declined until it reached a settlement with the Biden administration. At the end of January 2025, Trump returned—and Xiaomi’s stock immediately peaked and plunged. After a brief rebound, it has continued its slow decline ever since.