Momo (NASDAQ: MOMO) and iQiyi (NASDAQ: IQ) are both often cited as high-growth plays on China's streaming video market. Momo went public in 2014 at $13.50 per share, and now trades in the mid-$40s.

The trade war, the economic slowdown in China, and the depreciation of the yuan caused many investors to flee Chinese tech stocks over the past year. Yet some of those stocks weathered the downturn ...