Jim Cramer just said noted on CNBC’s STOP TRADING segment that Baidu.com (NASDAQ:BIDU) is growing at 80% and the downgrades or cautionary comments aren’t warranted. He even went as far to say "Baidu could go to $500.00," although that sounded more like conjecture than a formal target. Shares were up over 2% but now shares are suddenly up over 4% on stronger volume to a $322.00 level. When this was falling apart yesterday we noted the old bubble lessons learned from the dot.com days.
His Google (NASDAQ:GOOG) went from $600.00 to $700.00, then $701.00 last week to a new higher target of $750.00 recently. Once again, this Baidu.com $500.00 didn’t sound like a formal target but it’s definitely a number that will grab some attention.
Jon C. Ogg
October 12, 2007