Analysts moving the market (BIDU)
For those of you who have read previous post about BAIDU, might remember I said it is a “Very risky, gamble like position” because there's not enough accessible information (technical or fundamental).
Well, apparently – when there’s not enough information – people tend to listen to analysts.
Baidu has soared 36% in the previous three trading days, following a Morgan Stanley coverage of the stock. The night before last, Goldman Sachs and Piper Jaffray started coverage of BAIDU with “underperform” – the stock plummeted a wowing 28% yesterday, and pre-market trading indicates this trend might persist today.
My position on BIDU is still in the OK zone, and I am going to hold to it, unless it’s going to dip below -7%.
Tags: stock market, portfolio, BIDU