LeEco Shares Gyrate on Cash Crunch Concerns

Concerns of a looming cash crunch at online video service LeEco grew on Monday, as investor sentiment varied on the company's ability to handle a large debt load it has accumulated through a multibillion-dollar expansion over the last two years.

LeEco shares initially tumbled 5% to a one-year low when trading began on Monday. They later pared the losses and were down by about half that amount midway through the day before closing down 4.7%.