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Shares of Sohu (ticker: SOHU) have rallied over the last month on strong Q3 earnings results, excitement over winning the Olympics sweepstakes, expectations for its Sogou search engine, and investor belief (or maybe just hope) that the company is finally becoming more focused. But check this out from China Business News (via danwei):

Sohu's victory over Sina in the race for Olympic sponsorship may be meaningless since Olympic restrictions on advertising may prevent Sohu from profiting off of any increased traffic. And since the Olympics have never issued credentials to Internet journalists, Sohu really has nothing unique to offer apart from the official Olympic website.

Comment: Management discussed the Olympic sponsorship during SOHU's Q3 2005 earnings results conference call. See here.

SOHU chart.

Source: Sohu's Olympic Mistake? (SOHU)