Day Trader Alert: Baidu.com (BIDU, GOOG)
October 17, 2008 by Douglas A. McIntyre
Baidu.com, Inc. (NASDAQ: BIDU) is seeing a rather large surge in its shares this morning. The frequently analogized "Chinese Google" has no news of its own. But the real Google Inc. (NASDAQ: GOOG) is trading up nearly 10% after beating Wall Street estimates. Traders are hoping that the slowdown in China also won’t roll over Baidu.com just like what was seen last night at Google. Baidu.com shares are up roughly 5% pre-market at $236.00. This is still only about 15% off of its 52-week lows and barely half of its 52-week highs.
So far we have seen almost 10,000 shares trade hands. It does have stock options, and today is options expiration date. If the market stays anywhere near stable today, traders will be looking to "the mini-Google" for some trades.
Jon C. Ogg
October 17, 2008
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