Baidu-backed streaming service iQIYI tumbles after disclosing SEC probe

Baidu-backed streaming service iQIYI tumbles after disclosing SEC probe

Photo: Bloomberg

Iqiyi Inc., a Chinese Netflix-style streaming service that’s backed by Baidu Inc., tumbled as much as 19% after disclosing that the company is under investigation by the U.S. Securities and Exchange Commission.

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