Recently, we upgraded Baidu (BIDU) at $95 notifying investors of this fact on this blog post recommending to close previous $115 short positions reversing to the long side.
Beyond Trading does not have a long position in Baidu (BIDU) at this moment. We recommended to close $95 long positions at $108.4 before earnings.
"Baidu is one more case where we have been demonstrating a remarkable accuracy trading both sides of the market. The stock is quite expensive at this point trading at a new 52 week high on short covering. I strongly believe you should have listened to our opinion to buy it at $95-96, otherwise you are in trouble as Wall Street always upgrades after the rally has taken place!"
Baidu trading at $118.21 a new 52 week highToday, Baidu (BIDU) was trading at $118.21 a new 52 week high following earnings announcement.