3 Reasons iQiyi Flunked As an IPO
It was a rough debut for iQiyi (NASDAQ: IQ) last week. Baidu's (NASDAQ: BIDU) fast-growing video streaming subsidiary went public at $18 on Thursday, and it wasn't pretty. The stock opened at $18.20, far from the opening pop we've see with other hot debutantes, but still a respectable first trade. Things only got worse from there. The shares slid all day, closing at $15.55.