BAIDU (BIDU) Chinese stock of the day
A couple of weeks ago, my friend Shay asked me of my opinion of Baidu – a Chinese company that has recently gone public and created a lot of buzz as it takes Google’s market share in China.
A brief research of this company got me to a conclusion that I can’t say anything interesting about it since it has a very short market track-record.
During the last couple of weeks, there was a big fuss about Google snatching Microsoft’s ex-VP in charge of Chinese related strategy. If you read the buzz, two things become clear:
- both Google and Microsoft are eager to get into the Chinese market (surprise surprise)
- Microsoft has troubles getting into the Chinese market.
- Google might have troubles getting into the Chinese market.
These convinced me to take a gamble, and buy a bit of BIDU stock. Four days later, BIDU rallied, and I was +5%, and decided to double my holding, realizing that this is a blind bet, and I was to monitor this position closely, and cut my losses at first sign of trouble. It’s a very risky, gamble-like position.
Today, BAIDU has jumped over +12% (at the time of writing).
Here are my past BIDU transactions.
In the future, if you would like me to post whenever I go into a new position, or out of an existing position, please drop me a line, or leave a comment to this post.
Old BIDU transactions:
08/26/2005 Bought 10 BIDU @ 80.23
08/30/2005 Bought 15 BIDU @ 82.99 -
09/09/2005 Bought 25 BIDU @ 88.88
Current BIDU price: 109.20 (~ +27%)
Tags: stock market, investing, guide, howto, BIDU