BIDU - Will Baidu Be a Trillion-Dollar Stock by 2030?
2024-06-17 14:00:00 ET
Baidu (NASDAQ: BIDU) was once one of China's hottest tech stocks. The online search and advertising giant's stock hit an all-time high of $339.91 on Feb. 19, 2021 -- which propelled its market cap to nearly $114 billion. That represented a whopping 12,489% gain from its split-adjusted initial public offering (IPO) price of $2.70 per share on Aug. 5, 2005.
Today, Baidu's stock trades at about $92 with a market cap of $33 billion. Its growth cooled off as it faced tough macro and competitive challenges, while high interest rates and the escalating tensions between the U.S. and China compressed its valuations. Could this Chinese tech giant bounce back and become a trillion-dollar stock by 2030?
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Will Baidu Be a Trillion-Dollar Stock by 2030?