7-Jan-08 11:29 pm
Those "volume spikes" back in October -- nearly 20 million shares when BIDU is only supposed to have 24 million trading Class A shares -- has caught the attention of the SEC.
The stock is trading like there are a LOT more shares outstanding than the company has disclosed. I suspect fraud is involved -- and think Wang's "accident" has something to do with its exposure or attempted "cover-up."
Sentiment : Strong Sell
Look at some of the daily volumes over the past year. There were two days in October where the daily volume reached nearly 20 million shares -- this with a company that is telling the investing public they have about 24 million shares outstanding (the trading Class A shares; the approximate 10 million non-trading Class Bs are added for the per-share revenue/earnings numbers).
Unless there is some ground-breaking news -- like the announcement of a bankruptcy -- you simply do not see such a HUGE volume of trading, measured as a percentage of outstanding shares, in publicly-traded companies. This is true even in other heavily day-traded stocks similar to BIDU.
Something is VERY WRONG with the volume over the past year. BIDU is trading like it has a LOT more shares outstanding than the claimed 24 million Class A.
Has the company been secretly issuing more shares? Has some Class B shareholder been selling (without disclosure) and effectively converting the Class B shares to Class A? Has someone been selling counterfeit shares into the public market? Has a corrupt broker/dealer been trading a small group of shares between accounts to drive volume and manipulate the price? Does the CFO's mysterious death have anything to do with this?
There are a lot of questions with BIDU right now and a lot of indications that there is serious criminal activity surrounding this company.
Sentiment : Strong Sell
Isn't it about time you bump this thread up again?
It seems that Baidu is involved in "fraud" in the way it runs the company -- I wonder if that makes you reconsider the possibility that Baidu is engaged in securities fraud too?
Hey "j," you haven't bumped this thread up in a while.
I can see a situation where massive securities fraud is exposed in BIDU's trading, and you'd probably be writing the SEC and Justice Department trying to tell them, that "they don't understand; it's all just natural 'daytrader' activity, not fraud."
If you are looking for more substance than "j29455278's" comment of "*****" then feel free to read what BIDU is telling the SEC:
>>>We may from time to time distribute rights to our shareholders, including rights to acquire our securities. Under the deposit agreement for the ADSs, the depositary will not offer those rights to ADS holders unless both the rights and the underlying securities to be distributed to ADS holders are either registered under the Securities Act, or exempt from registration under the Securities Act with respect to all holders of ADSs. We are under no obligation to file a registration statement with respect to any such rights or underlying securities or to endeavor to cause such a registration statement to be declared effective. In addition, we may not be able to take advantage of any exemptions from registration under the Securities Act. Accordingly, holders of our ADSs may be unable to participate in our rights offerings and may experience dilution in their holdings as a result.<<<
Feb 27, 08
So far I have scanned 305x stocks and BIDU has the highest ratio
There is something true to what he is saying and should not discount that...
the same way we should not discount
China for another 6 months
Big boys supporting this stock
i think so. shina is still somewhat corrupt verymuch like Russian companies.. they are imbedded to deeply.
just look at teh press release with the celebrity scandal and the kid is hiding in Boston Ma because thre are nude pics of him with many other celebs and it caused all their careers to fall due to loss of respect and morals. it even states that most of their actors/actresses are controled by chinese mafia and they are losing $$ because of this scandal, and they ordered a hit on th kid to have his hand cut off.
no doubt they move their wayinto any of the top business that make money and donot care if they run the company under.
("j29455278" is really making this thread difficult to follow with his constant bumping -- while adding no comments)
>>> i think so. shina is still somewhat corrupt verymuch like Russian companies.. they are imbedded to deeply.<<<
Yes, corruption in China is no small problem.
Additionally, if you look at those individuals who were involved in bringing BIDU to the NASDAQ (especially the now deceased CFO) you see a group of people who understand the ADS (American Depository Share) and ADR (American Depository Receipt) system well.
If anyone knew how to "game" the system, some of those intimately involved in BIDU's formation could be considered "experts" in that area.