Wednesday, September 14, 2005
Wall Street Hates Baidu
It seems that Baidu's underwriters have initiated coverage with very negative reports on the stock. As you can see in the hourly chart above BIDU is now down 36 points from yesterday's intraday high.
My own view is that the people selling near today's open at 87.22 are going to be very sorry they did. Baidu is heading much higher from here.
P.S. For those who love conspiracy theories I might add that I would give odds that Goldman's proprietary traders are loading up with Bidu as I write this!