Freaking insane....thought this was thread-worthy...one of the best IPOs in years mainly due to the rumors that GOOG will buy them out. GOOG already owns a small stake under 3%. It's up like 70+ points right now. http://yahoo.reuters.com/financeQuo...tfh12775_2005-08-05_15-47-23_n05195649_newsml Baidu.com shares almost triple in market debut Fri Aug 5, 2005 11:47 AM ET NEW YORK, Aug 5 (Reuters) - The shares of China's largest Web search company, Baidu.com Inc., (BIDU.O: Quote, Profile, Research) almost tripled in their market debut on Friday after pricing above their expected range in a hot initial public offering. Baidu.com shares surged about 195 percent, to about $78, in morning Nasdaq trading from their initial public offering price of $27 per American depositary share, which was $2 above the top of an already raised price range. Comparisons between the Beijing-based company and world search leader Google Inc. (GOOG.O: Quote, Profile, Research) , which owns 2.6 percent of Baidu, had sparked strong interest in the offering, the first U.S. listing for a pure-play Chinese search engine company.
not necessarily, if you ask GOOG shareholders who bought at $100. thats the brightside. on the downside, competitors such as sina.com and sohu.com have not achieved similar results in the search arena field of china. Their IPO's were less successful. Plus you have Chinese govt. oversight of searched materials, which we don't find in the US. Did you know that the Baidu site was suspended from operations for 2 months or so, b/c the govt. didn't agree with the openness of its site. Overall this ADR (American Depository Receipt) has momentum and the glitz and glamour, but carries certain legislative risk which cannot be ignored.
it closed at around $123 friday. Do you guys think its worth a try buying some shares monday morning and hoping it hits $200 and then selling?
Before It was put up on the nasdap, I wanted to buy the stock, but I didn't, I miss out a great chance to make fortune. Now, I got on words to say.
hey if you have money to burn that you want to hope on then buy it. you could also just bet on a baseball game today if you want to do that. it's no different than what you are talking about. i'm not saying that it will go up or down from here. i'm just saying hope is not good unless it's just money you want to burn. someone at work told me BIDU at this price is the equivalent of GOOG at 5000...lol crazy stuff.
Is there any surprise? With market cap of 4 Billion, quarterly revenue of 9 million and net income only 1.5 million. I would short this thing if there some shares available to short.
