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