These 10 Stocks Led Rally on Wednesday

6. iQIYI Inc. (NASDAQ:IQ)

iQIYI Inc., a Chinese-based online entertainment platform, saw its share prices increase by 10.48 percent on Wednesday to end at $2.53 apiece as investors repositioned their portfolios ahead of the release of its fourth quarter and full-year earnings results next week.

Recently, IQ earned a number of bullish outlooks from analysts on the back of its strong viewership over the past quarters.

Last week alone, IQ said it saw a surge in viewership and online engagement during the Chinese New Year, saying classic IPs, including blockbuster films, served as a powerful foundation for the surge.

Meanwhile, it also saw evolving content preferences of users, already gradually transitioning to a mix of long-form videos and mini-dramas.

Last month, IQ upgraded its Diamond VIP membership enabling members to unlock Member Express Packages without needing additional membership points or purchases.

Meanwhile, 2024 saw Member Express Packages increasingly become the standard for drama lovers, with more than 10 million VIP members using the service when viewing popular shows.