Baidu.com (BIDU: Nasdaq) has been very volatile since it debut on friday (August 5) last week. It came public at $60 and hit a high of $151 in its first day of trading. BIDU has also been hailed as the Google of China (GOOG: Nasdaq now stands at $289+, think Google's IPO).
However, trading BIDU is a high game to play. Those who thought that BIDU will rise further have sadly been mistaken. Within 3 days of trading by momentum traders, BIDU began to slide - so much so that investors have been trying to short sell BIDU. The probs with short selling? - Very few buyers and a 50% interest charge.
Only one week now since its debut, its still pretty hard to tell what may happen in the next few months to come. But like Google, it remains volatile to market conditions.
No comments:
Post a Comment