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Why iQiyi Is Soaring Today

TheMotleyFool

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Chinese tech stock iQiyi (NASDAQ: IQ) was a rocket on Wednesday. The shares were zooming nearly 11% higher in mid-afternoon trading on the back of news regarding a new piece of hardware.

After U.S. market hours on Tuesday, iQiyi unveiled its latest virtual reality (VR) headset, the QIYU 3, in a splashy, live-streamed event.

Image source: Getty Images.

Source Fool.com

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