I disagree... just stay away from the Shanghai Exchange. China is an enormous market that is not even near saturation. US ADRs are getting unfairly tarnished -- Baidu sells at a discount to many of its US counterparts... and it is growing faster and has lots of untapped market to expand into.
yes it is oversold but this is all pre staged and manipulated markets. I am still holding but hoping this will go back to close to 200 in next 2 to 3 months
not in this market the party is over untell next earnings report,, will just drift with china mrks !!
All Chinese companies lie about their earnings,,,,just like China has been lying about their GPD for years....
BIDU SINA PUDA LDK BABA now proved they are SCAMS....
to buy back shares cheap, do you think board members will lose billions of dollars in their wealth? no way!
"The Company's board of directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size."
Yes companies do announce they doing a buyback to spike their stock then in a few months the board cancels it because maybe the share price was too high. surely the company will want to buy chairs cheap and $175 is not cheap.
we do not know the board's target, but maybe they want to buy if stock is $100, $125 or other.
Baidu's once terrific profit margins are eroding fast and the
answer is NOT O2O, the online markets where competition
is fierce. That is why the Alibaba stock is also sliding.
There is no quick answer to turn Baidu back to its former powerhouse.
Well they have to. What else is there? Baidu positions itself for the future. How big the margins will be one day? Nobody knows. But they do have technology and keep developing and investing in technology to provide the best solution for consumers to find what they are looking for and businesses to reach customers. It's not about searching the web anymore. Right now there's a lot of development going on and we haven't really seen much yet. It doesn't take much imagination to see how people will really USE the power of their smartphones to find stuff and get stuff done without really searching too much or wasting time anymore. There's space for competitors. But there won't be many anyway.
November 2008 was the last announcement of a stock buy back - the
company did not follow thru and quietly it was forgotten.
This is a desperate ploy to stem further decline in the stock price.
Baidu should drop its attempt to go into the online markets where there
will be tough competitors like Tencent and Alibaba.