The Chinese are discovering the internet. Have you ever heard of Baidu.com? It is a leading Chinese language search engine. It is basically the Chinese version of Google. It operates websites and it provides online advertising services in China. It also provides other services like news, mp3 and image search through a subsidiary called Baidu netcom. Baidu online operates a software business and provides technology consulting. The Chief executive officer is named Robin Li. He owns about 22% of the company. By the way Baidu means "hundred times" in Chinese.
In February of 2006 the stock was going for $50 a share. By December of 06 it had reached $100. By August of 07 it was over $200. By last month it was at $420 a share. Since this high it has taken a little dip and on December 5th it closed at $392 a share after a gain of more than $4 for that day. It has gone from $50 a share to nearly $400 in less that two years. That is one hell of a rocket ride for a stock. It's likely to keep climbing.
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Baidu (BIDU) Stock Price Today
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