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Alibaba Group Holding Limited American Depositary Shares each representing one
News aggregator Qutoutiao (QTT) is making up for lost time following its lackluster IPO last fall that raised far less than its original target. The company just announced a new share sale that will generate about $30 million in cash, just days after raising another $171 million from e-commerce giant Alibaba (BABA).
Investors didn't seem too impressed with the latest cash-raising exercises, with Qutoutiao's shares shedding some 8 percent in the last trading session. That drop appears related to announcement of the pricing of this latest share sale, since the company first announced the move