Why Baidu Shares Are Trading Higher
Portfolio Pulse from Henry Khederian
Shares of Baidu Inc (NASDAQ:BIDU) are trading higher by 3.5% to $147.96, in sympathy with Alibaba Group Holding's better-than-expected Q1 FY23 financial results. Alibaba reported a 14% YoY growth in revenue to $32.29 billion, surpassing the consensus of $31.20 billion. Baidu has a 52-week high of $67.87 and a 52-week low of $31.56.
August 10, 2023 | 2:29 pm
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Baidu's stock is trading higher due to Alibaba's positive Q1 FY23 financial results. The company's 52-week high is $67.87 and low is $31.56.
Baidu's stock is trading higher due to the positive financial results of Alibaba, a peer Chinese tech company. This suggests that investors are optimistic about the Chinese tech sector, which is positively impacting Baidu's stock.
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