Lone Pine, run by Stephen Mandel Jr., bought 5.3 million shares of Beijing-based Baidu, owner of China’s biggest search engine, with a market value of about $821 million. Among other things, previously the crashing was pure manipulation, nothing more.
This going back to earnings levels $170.
Sorry you sold to early.
for every buyer there is a seller.
Your data id 6 weeks old...I guess you feel that the fact that Mandel bought a chunk is the reason that the stock has risen from 150 -163 in the last 10 days. Certainly the possibility is there...
In my opinion, the clouds of skepticism about the politburo changes in China are beginning to be seen as positive in the world economy.
Also, as I mentioned in another post..It is my opinion that the growth potential of Baidu is significantly higher over the next few years compared to several US blue chips.
B_...appears u, Cyber28 and myself are the 3 remaining bulls with things to say on this board.
Your comment about top line growth caused me to think out loud that most US stocks have not met revenue expectations this quarter.
Another interesting point is that Baron's commented that Qihoo had a 20% search share in October. I believe Baidu advised they had an 80% share. In my opinion, either the market is saying there is a lot of room for both to grow or that perhaps the share numbers of 1 may be wrong (in my opinion Qihoo).