CNBC Television Iqiyi, Baidu drop after SEC investigation announcement

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «CNBC Television» (@CNBCtelevision). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: Dan David, Wolfpack Research Founder, on the SEC probe. With CNBC’s Melissa Lee and the Fast Money traders, Pete Najarian, Steve Grasso, Bonawyn Eison and Brian Kelly. For access to live and exclusive video from CNBC subscribe to CNBC PRO: Shares of Chinese streaming service iQiyi plunged in after-hours trade in the U.S. after it announced the Securities and Exchange Commission (SEC) has launched a probe into the company. The SEC investigation was prompted by a report in April from Wolfpack Research, which describes itself as an “activist research and due-diligence firm.” In that report, Wolfpack accused iQiyi of fraud and inflating its numbers. iQiyi said the SEC is “seeking the production of certain financial and operating records dating from January 1, 2018, as well as documents related to certain acquisitions and investments that were identified in a report issued by short-seller firm Wolfpack Research in April 2020.” The Netflix-style streaming giant also said it has “engaged professional advisers to conduct an internal review into certain of the key allegations” in Wolfpack’s report. Wolfpack Research alleged iQiyi inflated its 2019 revenue by approximately 8 billion yuan ($ billion) to 13 billion yuan ($ billion) — or between 27% to 44%. Wolfpack also claimed the streaming company overstated user numbers and expenses. Shares of Nasdaq-listed iQiyi fell over 18% in extended trade but pared some of those losses. The company was down % at the end of the after-hours trade period. » Subscribe to CNBC TV: » Subscribe to CNBC: » Subscribe to CNBC Classic: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: For info on the best credit cards go to CNBC Select: #CNBC #CNBCTV