iQIYI (IQ) Rebounds 8% from 15-Day Drop. Here's Why

We recently published 10 Big Names Beating Wall Street at its Own Game. iQIYI Inc. (NASDAQ:IQ) is one of the best performers on Monday.

iQIYI rebounded from a 15-day drop on Monday, jumping 8.37 percent to close at $2.2 apiece, as investors appeared to have hunted for bargains to take advantage of its cheap value.

Since September 24, shares of iQIYI Inc. (NASDAQ:IQ) have been trading lower, only recovering on Monday, nearly a month later, amid the lack of fresh developments to spark buying appetite.

In recent news, iQIYI Inc. (NASDAQ:IQ) announced that it partnered with Japan-based comprehensive entertainment firm, Kadokawa Corp., for the distribution of animated series on its platform.

“We have seen a growing global demand for high-quality Chinese animation, driven by audiences’ appreciation for authentic stories and cultural richness,” said iQIYI Inc. (NASDAQ:IQ) General Manager for International Distribution Alice Leung.

“Through the collaboration with Kadokawa … we look forward to bringing more captivating and culturally meaningful stories to viewers around the world,” she noted.

Additionally, it registered an 11.2 percent surge in viewership data during the recently concluded National Holiday in China, versus the pre-holiday period.

While we acknowledge the potential of IQ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.