Yesterday Baidu increased by 6.24%, ended the session at $126.08

Published: May 27 2023, 08:25 GMT+0

Yesterday Baidu increased by 6.24%, ended the session at $126.08

A quick look at yesterday: the Chinese technology company topped out at $126.4 having ended yesterday at $126.08. However, despite early momentum, the stock gave up its gains to now trade at $126.08.

  • Daily trading volume (3 million shares) was slightly above the current multiday average of 2.71 million.

As market participants brought yesterday's session to a close, Nasdaq rose 2.19% and finished the day at 12,976. Baidu climbed to $118.67 with similar gains seen throughout the Communication Services sector (up 0.271%).

The Chinese technology company has fallen back around 25.93% over the past 3 months, from a notable high of $160.22. So far this year, it has been under-performing the Nasdaq by 14.17%. The company's market cap currently stands at $44 billion with an average daily trading volume of 2.71 million shares. Baidu has a forecast of $4.31 billion with an EPS of $1.79.

This rally in Baidu's share price coincided with other communication services stocks as Netflix gained 5.54%, as it traded at $378.88. Meta Platforms traded at $262.04 after closing yesterday's trading day at $252.69 (up 3.7%). AT&T added 2.31% to its value, and traded at $15.5.