Baidu Down over Fifty Bucks After Hours

Oct.26.09 | About: Baidu, Inc. (BIDU)

Chinese search engine Baidu (NASDAQ:BIDU) released stronger than expected earnings after the close today, but lowered revenue guidance for the fourth quarter. As a result, the stock is getting hit. After closing above $430 in regular trading, shares are down over $50 in after-hours trading (12.5%). To illustrate how overbought the stock was heading into the report, even after the $50+ decline it is now trading right at its 50-day moving average of $378.

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