Why iQiyi Stock Was Falling This Week
Week to date, shares of iQiyi (NASDAQ: IQ) were down 14% as of 12:21 p.m. on Friday, according to data provided by S&P Global Market Intelligence. On Jan. 17, iQiyi announced an offering of 76.5 million American depositary shares, representing about 10% of its market capitalization (total shares outstanding times the share price). While Yu believes the long-term outlook is still uncertain, iQiyi is showing considerable progress in its turnaround effort.