Baidu currently down 3.4% prior to afternoon session

Published: November 25 2022, 16:56 GMT+0

Baidu currently down 3.4% prior to afternoon session

The Chinese tech giant drops 3.4% in early trade and remains within touching distance of the $93.7 level.

The trading session is well on its way, Nasdaq dropped to 11,242 — a 0.38% fall. Baidu is flat, while the Communication Services sector seems to be doing slightly worse (-0.069%).

Having set a significant high of $167.35 25 days ago, the Chinese tech giant is trading 26.68% lower. The Nasdaq has been doing worse in 2022, it has been passing it by 5.36%. The company has a market cap of $32.38 billion with an average daily volume of 3.71 million shares.

Baidu's stock value drop coincides with Netflix is down to $285, losing 2.23%, after ending Wednesday at $291.5. After closing the previous session (Wednesday) at $98.82, Alphabet lost $1.06 and is trading around $97.76.

Positive performances can be seen by looking at other communication services stocks as T-Mobile added 0.95% to its value, now trading at $151.55.