BIDU - 3 Reasons Baidu Stock Can Bounce Back in 2024
2024-07-10 07:30:00 ET
The trend is not the friend for Baidu (NASDAQ: BIDU) shareholders. China's iconic search engine finds its stock trading 20% lower in the otherwise buoyant 2024, off a blistering 33% over the past year. Many Chinese investments have fallen out of favor lately, but most of them are faring better than the country's original dot-com darling.
Baidu is down, but it doesn't mean it's out. Let's go over three reasons why the stock that is now 73% below its early 2021 all-time high could be ready to bounce back this year.
It's hard to sing Baidu's praises as a growth stock when it's a currently a shell of what it used to be. It has posted single-digit or negative revenue growth in four of the last five years. Its trailing revenue is just 24% higher than it was in 2018.
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3 Reasons Baidu Stock Can Bounce Back in 2024