Why iQIYI Shares Are Rising Today

What's Happening?

The China Banking and Insurance Regulatory Commission division approved the company’s plan to raise its capital to 18.5 billion yuan, reported Bloomberg, citing a notice dated Dec. 30.

Following the deal, Ant, which contributed 5.25 billion yuan, will control half of its shares while a unit owned by the city of Hangzhou will hold 10%, the report said...Read More

See Also: What's Going On With Tesla Stock Today

According to data from Benzinga Pro, IQ has a 52-week high of $7.10 and a 52-week low of $1.65.

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