Why iQiyi Blasted 9% Higher Today

Investors unhappy about the lackluster recent performance of Chinese stocks shed some of their gloom on Tuesday, with the almost 9% rise of iQiyi (NASDAQ: IQ). The video streaming company reported some highly encouraging news about one particular piece of content.

iQiyi announced that it's hot-off-the-server TV drama series The Ideal City has debuted to a large audience, and instantly become a white-hot piece of entertainment. According to the company, its Aug. 12 online premiere was a monster hit, with roughly 1.5 million of its subscribers "indicating interest" in the show.

Image source: Getty Images.

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Source Fool.com