Why Baidu, Tencent Music, and IQIYI Stocks Are Selling Off Today

1 min read

Chinese stocks took investors for a wild ride on Friday. At one point, shares of Baidu (NASDAQ: BIDU) fell nearly 14%, Tencent Music (NYSE: TME), 20%, Vipshop Holdings (NYSE: VIPS) 22%, and IQIYI (NASDAQ: IQ) 27%!

By day’s end, however, most of these losses had been erased. Although Tencent closed down 1.3% and Vipshops 2.4%, for example, Baidu actually ended up gaining 2% by the closing bell. (IQIYI was the odd man out, closing down 13.2% — which was still only half the loss it seemed headed for earlier in the day).

So what’s up with that?

Continue reading

Leave a Reply

Your email address will not be published.

Previous Story

Why Tesla Stock Fell Sharply on Friday

Next Story

CPFL Energia S.A. (CPL) Q4 2020 Earnings Call Transcript

Latest from Blog