The iQIYI (IQ) stock recently traded at $17.78 which is a 1.46% upward movement. The IQ stock previously closed at $17.43.
What is the recent news behind this trading behavior?
While there is no news on today’s market that could correlate to the movement in the current trading session, iQIYI(IQ) had announced previously on 28th March, the streaming of highly successful THE9’s online concert performance over its streaming platform.
Glimpse into iQIYI’s fundamentals
iQIYI (IQ) is an internet entertainment and video streaming service company. iQIYI is well known to lead in its services and features of original content making. The entertainment provided on this platform is reviewed as highly engaging and popular enough to engage a huge online audience for it. The video streaming company garnered an average total of 479.8 million Monthly Active Users while the Daily Active Users consist of 115.6 million for 2020. iQIYI recently invested 100 RMB to enhance its film quality production, visual-effects, hyper-realistic interactive technology and live stream. This investment was highly rewarded on 26th and 27th March when iQIYI held the XR live concert featuring THE9 with fans highly excited for this experience.
Tell me more about the TECH9 extended reality concert
What broke the internet over the weekend was that iQIYI was able to provide a lively and hyper-realistic online experience for its users and THE9 fans who were stuck at home in the pandemic. IQ delivered what is considered an extended reality (XR) live concert screened through a LED stage with photorealistic virtual reality presentation. The overall experience was futuristic and one-of-a-kind experience.
The immediate success of the concert was shared along with the highly enthusiastic and excited fans who shared their views online saying that “immersive experience of the concert was beyond-expectation and highly exciting performance by THE9 was very thrilling”. The fans could interact with their idols through either virtually having their seat placed in front of the performance or given an online invitation to be “on-stage”. At the same time, the visual setting for each performance was uniquely executed with adaptation of different cinematic-led background and lighting adjustments.
Does this performance bear good news for the IQ stock?
iQIYI’s (IQ) business boomed due to the pandemic and it utilized this opportunity fully through clever business approach and investment that combined virtual reality and online interactions. We know technology is highly advancing but to be able to market it in the way iQIYI (IQ) does, is what sets the trend pattern for future.
Combining these cutting-edge experiences, innovative content, and high quality tech will provide additional benefits in the form of greater operational performance and increased value of IQ stock. Pioneering this online entertainment trend and sustaining it throughout the newer generation of entertainment will present IQ stock as a solid long term investment.