Why Qutoutiao Stock Skyrocketed Today
Shares of Qutoutiao (NASDAQ: QTT) were soaring today even though there was no news on the Chinese mobile entertainment company. Instead, a possible short squeeze seemed to drive the surge in the stock, as shares closed up 61.3% on exceptionally high volume.
Qutoutiao stock had been hit hard in December; the company had struggled since July, when Chinese state television (China Central Television, or CCTV) accused the company of selling suspicious ads with false information at an awards show.
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Source Fool.com
