Baidu Pops on BlackRock Invest – GuruFocus.com
Baidu is the maker of the most popular search engine in China
- Baidu operates the most popular search engine in China and has a thriving autonomous driving business.
- The company reported a beat for both revenue and adjusted earnings in the 3rd quarter of 2022, despite a tepid advertising market.
- BlackRock recently increased its stake in Baidu, and the stock popped by ~13% in a day.
Baidu (
BIDU, Financial) is the comany that operates the most popular search engine in China. The company is an established tech giant with a wide variety of tech ventures and had its IPO on the Nasdaq in 2005. Since that point, the stock price increased by over 2,000% to its high in February 2021. It was almost certainly overvalued at said all-time highs but has fallen nearly 70% since then as the Covid tech bubble popped.
The good news is that recently there has been positive news regarding U.S.-listed Chinese stocks with talk from Chinese regulators that the tech monopoly crackdown is easing….
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source: https://news.oneseocompany.com/2023/02/02/baidu-pops-on-blackrock-invest-gurufocuscom_2023020240064.html
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