Why iQiyi Stock Jumped Today
iQiyi (NASDAQ: IQ) shareholders were beating the market on Friday as the stock gained 15% at the open before settling to a 4.2% increase as of 1:17 p.m. ET. The surge helped put the Chinese streaming content specialist back into positive territory for the year. At one point in March, it was down by nearly 60%.
The rally was powered by rebounding sentiment regarding Chinese stocks in general, along with rising optimism that iQiyi in particular will be able to protect its U.S. stock listing.
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Source Fool.com
