Tuesday, September 06, 2005

Stop Crying: We Told You Baidu Was Shit

I spoke to economist Carl Futia about 3 weeks ago.

At the time, Carl had a 6 month price target of $270 a share for Baidu.com (BIDU).

The next day, we put out a Heavy Sell Rating on the stock.

It was north of $120 dollars a share when we published the following:

The stock trades at more than 1,500 X 2005 earnings and we're talking about a company that did less than 2 million in net income last year. Yes, its a hot Net play in an emerging market, but the bulls will come to light and realize they're paying for pennies with crisp dollar bills. Catablast! Media Group has a table-pounding SELL rec on BIDU. If you own it, get out now. If you're yelling "China, China," it is time for a reality fix. The stock will be at 60$ inside of 4-5 weeks, if not sooner.

Today, BIDU trades at $78 a share, and the bloodbath is far from over.

Again, please liquidate your position if you are one of the unfortunate who didn't ring the register when you had the chance.

About Us | In the News | Management | Contact Us | Archive | Premium Membership | Terms of Use | Privacy Policy | Careers | FAQ

All quotes are 15 minutes delayed. Copyright © 2006 by Catablast! Media Group LLC, part of the SeekingAlpha network. Web Design by Synexio Systems. All Rights Reserved.