Baidu closes at $146.84 after gaining 6.28%

Published: March 19 2023, 06:36 GMT+0

Baidu closes at $146.84 after gaining 6.28%

Friday at a glance: Baidu Inc jumps 6.28% to close at $146.84 Friday.

  • Daily trading volume (7.57 million shares) increased, making up 181% of the 21-day average (4.17 million).

With around a day until market open on the NASDAQ, Friday's session saw to it that Nasdaq ended the session at 11,631, having lost 0.74%. Baidu climbed to $138.16 with similar gains seen throughout the Communication Services sector (up 0.216%).

The Chinese technology company is now trading 13.77% below the significant high of $160.22 it set around a month ago. So far this year, it has been outperforming the Nasdaq by 4.9%. Currently, the Chinese tech giant has a market capitalization of $50.74 billion with an average daily trading volume of 4.17 million shares. Baidu is forecasted to generate revenues of $30.29 billion and EPS of $1.61.

This rally in Baidu's share price coincided with other communication services stocks as Alphabet was up 1.38%.

Baidu went up Friday, yet these communication services stocks did not follow — Meta Platforms went down 4.55%, closed at $204.93. AT&T lost 1.41% Friday and closed at $18.13.