Interesting,,, youmay be right, theres gotta be a reason they waited until saturday to release this information.
now there are rumors that the CFO committed suicide possibly because of accounting fraud....(as per discussions on google finance) also whenever these comments are posted on BAIDU"S website, they are quickly erased (google finance discussions) What do you guys think? Why the mystery on how he died???
The whole ADR sector should be looked into. I mean comon. CHNR, CTDC, CHINA, SEED, JRJC, STV. Now we might have to add an unexpected name to the list.....BIDU. Fuckin joke this has become.....costing shareholders the whole way. One of the reasons I refuse to touch these things.
BIDU's financials have never been all that relevant to its stock price. Since when does a company (other than a biotech startup) with $200M in revenue and profit of $75M deserve a market cap of $10B? It's a momo stock, nothing more.
This typically wouldnt be THAT big of a deal, in terms of a selloff IMO, BUT, the company is has not said anything yet past it was an accident, and this happened in china on what the 26th
I wouldn't even dignify them as rumors. It's just a couple shorts or trolls making stuff up. (Also, it's down only 1%; shorties were predicting a 25% drop).