Is Qutoutiao the Next Hot Chinese Tech Stock? [The Motley Fool]
Qutoutiao Inc. - American Depositary Shares (QTT)
Last qutoutiao inc. - american depositary shares earnings: 3/18 05:30 am
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Source: The Motley Fool
Qutoutiao was briefly the hottest IPO of the year, but it's given up most of those gains. Qutoutiao 's ( NASDAQ:QTT ) stock more than doubled from its offering price on its first trading day on Sept. 14, making it the best-performing IPO of the year. The Chinese news aggregator app maker priced its shares at $7, but its stock closed at nearly $16 on the first day. However, the stock subsequently gave up most of those gains and tumbled back to about $9. Should investors buy the pullback, or sit this one out? How is Qutoutiao growing? Qutoutiao, which means Fun Headlines, is China's second-largest mobile news and video aggregator in terms of monthly active users (MAUs) and daily active users (DAUs). The platform serves 48.8 million MAUs and 17.1 million DAUs, who reportedly spend an average of 56 minutes on the app per day. Image source: Getty Images. Its biggest competitor is ByteDance Technology 's Jinri Toutiao (Today's Headlines), which serves over 200 mil
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