iQIYI Inc. (IQ) bounced back on Monday with an 8.37% increase after a 15-day decline, closing at $2.2 per share. The rise was attributed to investors seeking bargains due to the company’s low valuation.

Shares of iQIYI Inc. (IQ) have been on a downward trend since September 24, only recovering on Monday. The lack of new developments has contributed to the subdued buying interest in the stock.

iQIYI Inc. (IQ) recently announced a partnership with Kadokawa Corp. from Japan to distribute animated series on its platform. The collaboration aims to offer viewers globally more culturally rich and engaging content.

The General Manager for International Distribution at iQIYI Inc. (IQ) highlighted the growing global demand for quality Chinese animation. The company looks forward to bringing captivating stories to audiences worldwide through their collaboration with Kadokawa.

iQIYI Inc. (IQ) also reported an 11.2% increase in viewership during China’s National Holiday compared to the pre-holiday period. The company continues to expand its content offerings to cater to a diverse audience base.

Read more at Yahoo Finance: iQIYI (IQ) Rebounds 8% from 15-Day Drop. Here’s Why