This will eventually go to court. I am guessing a verdict won't come out for at least a year, and then it will likely get appealed. The point of this lawsuit is to draw attention to this so the China government will work with the US to fix the China law that conflicts with USA law. Anyway, worse case situation is it delists in a couple years, but news on this won't come out for at least a year. In the meantime, this stock is cheap and really can't fall much more. It is at a support right now. If it doesn't drop substantially and quickly below support, it will likely pop. If it drops below support, it still is a good long term buy and hold.
Unless we get really bad news, I think it will likely hold above support here. And there is a chance we get good news, too, like 1) fiscal cliff resolution, 2) intelligent use of debt and cash to buy company, shares, or special dividend, 3) growth continuing in the 30%+ range (and a current forward PE of 15).
I can't say whether it will pop off current line or a lower support, but I can tell you that this will pop and when it does it will be good. The people that are bearish on this are looking at the charts. The fundamentals will eventually override the charts and this stock will shoot up.
I agree. I think the fundamentals will shine thru in due time. Very cheap stock. I think they will have a great year in '13. Soon, they will be making more money off of Mobile and a lot of money from the Cloud. This company is simply in transition. In my 25 years of investing, I have never seen a company fall so far on so little news. Other than the slight miss in revenue in 3rd qtr. and slight decline in forecasted revenue; it is only down on Chinese economy, Unproven Competition, Sec Worries. Great companies do well in bad economies and the competition is a joke. The SEC can only do so much and I strongly believe BIDU is a 'clean' company....I would be worried if I was in QIHU, RENN, and any of those other stocks.... BIDU will rise again.
" ... In my 25 years of investing, I have never seen a company fall so far on so little news. ..."
Like many, you missed the REAL news ..... Li's impending divorce. His soon-to-be ex-wife stands to become majority share holder. This is why investors have been running for the hills. Qihoo .... ? Pleeeease. SEC .... ? Those bumbling clowns can't regulate their a.s.s.e.s out of a paper bag. It's his wife that's scaring everyone. She's pretty, but ..... what lies lurking behind those smooth, round hips? Hmmmmmmmmm ......