Why iQiyi Stock Popped Today
Shares of Chinese streaming-video platform leader iQiyi (NASDAQ: IQ) were up 9.6% as of 1:30 p.m. EST Monday despite a relative lack of company-specific news. Instead, the cause of today's jump appears to be news that Chinese regulators are taking steps to bolster stock market liquidity and support affected businesses amid the coronavirus outbreak in the country.
Image source: Getty Images.
For perspective, iQiyi stock only just plunged nearly 10% in a single day on Jan. 24 amid growing fears of the economic fallout of the coronavirus epidemic.
Source Fool.com
