Baidu Cut Close to 52-week Highs (BIDU)

Posted in pre-market 
November 30th, 2009

Baidu, Inc. (NASDAQ: BIDU) is under pressure this morning on an analyst downgrade to Market Perform from Outperform at Bernstein.  At 8:25 AM EST we have seen only about 24,000 shares traded and the stock is down less than 1% at $436.00 on the last print.  The 52-week trading range is $100.50 to $443.25.  A downgrade at the top of a 300% recovery from the lows would be a larger impact event if it was a larger firm than Bernstein.


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