Yes, the sky is falling. Happens all the time to various stocks. By the end of next year you can be sure this will be much higher. Forward PE is about 15, and if this stock grows at a rate anywhere close to expectations, it will be at least $150 in a year. Just wait and let the story unfold. The only thing that could derail Baidu's growth would be a major recession in China, so that is the main point to watch for. A slight recession is probably already built into the price reflected in the lower PE. I would guess new leaders will do everything in their control to not let a recession happen (and leaders in China have much better control of their economy than US politicians).
And I agree that people who read this board likely trade 1000's of shares per day (excluding options). Really makes no dent in a stock. Most of the stock is hft's and they don't read anything other than very short term data points. Institutional investors are substantial investors and are failure avoidance. They are basically zombies that move in and out based on what people like citi and Goldman say. Over time, the market gets it right eventually.