Iqiyi, often called the Netflix of China, is another short seller target following beverage chain Luckin Coffee’s spectacular downfall.
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US regulator is investigating Iqiyi for financial fraud
Iqiyi said it is under investigation by the SEC over a short report released in April that accused the company of inflating 2019 revenue by up to 40%.
Posted inHeavy Hitters
Ctrip said to be mulling delisting from Nasdaq
Ctrip is the fourth Chinese tech company that mulls delisting from the US financial markets in around one month as the tension between the two countries intensify.
