Shares of Chinese news aggregator Qutoutiao Inc. QTT, -41.08% are down 35% in Monday afternoon trading, which marks their second day of trading since the company's initial public offering. The stock popped nearly 130% in Friday's session. Qutoutiao's stock plunge Monday comes as Chinese internet stocks are generally trading lower amid trade-war concerns. MarketWatch talked with the company's chief strategy officer on IPO day, and he spoke of the company's focus on lower-tier Chinese cities. He said the company was less concerned with short-term price movements and more focused on conveying its story to U.S. investors given that he thinks the company doesn't have a direct U.S. comparison. The selloff Monday comes as the Renaissance IPO ETF IPO, -2.12% is up 7.8% so far this year, while the S&P 500 SPX, -0.56% has gained 8.3%.
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