Why iQiyi Is Soaring Today
Chinese tech stock iQiyi (NASDAQ: IQ) was a rocket on Wednesday. After U.S. market hours on Tuesday, iQiyi unveiled its latest virtual reality (VR) headset, the QIYU 3, in a splashy, live-streamed event. Among other features, iQiyi is touting the set's iQUT feature cinema, which it says provides a 2,000-inch screen that matches the collective display of 20 80-inch TVs.