Why Baidu Shares Are Falling
Portfolio Pulse from Henry Khederian
Shares of Baidu Inc (NASDAQ:BIDU) are trading lower by 2.01% due to a drop in China's industrial profit in May. The industrial firms in China have seen a continued decline in annual profits, with a 18.8% slump in the first five months. BIDU has a 52-week high of $160.88 and a 52-week low of $73.58.
June 28, 2023 | 3:47 pm
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Baidu's shares are trading lower due to a drop in China's industrial profit. The company's 52-week high is $160.88 and low is $73.58.
The decline in China's industrial profit has led to a decrease in Baidu's share price. As the company's performance is closely tied to the Chinese economy, any negative economic news from China can significantly impact Baidu's stock price.
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