Streaming Platform iQIYI (IQ) Searches for Successor After CFO Steps Down

Streaming platform iQIYI Inc. (NASDAQ:IQ) is one of the best stocks under $3 to invest in. On January 20, iQIYI Inc. (NASDAQ:IQ) announced the resignation of its Chief Financial Officer, Jun Wang, for personal reasons, and that Wang would remain an advisor until May 31. The company appointed Ying Zeng, the company’s Senior Vice President of Finance, as Interim Chief Financial Officer. Zeng joined the company in 2017 and has been Senior Vice President of Finance since 2022.

In its statement on the management change, iQIYI Inc. (NASDAQ:IQ) said that it has elevated a long-serving internal finance executive with IPO and financing experience to manage the company’s financial strategy as it launches a search for a permanent CFO. The company is undertaking this change amid a recent week-long slump in stock price from $2.13 in January 28 to $1.96 as of February 3, following a more bullish trend the preceding week that almost mirrors the decline.

China-based iQIYI Inc. (NASDAQ:IQ) is an online entertainment company that offers membership services on its video streaming platform. The company’s scope of services includes online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency, and online literature.

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