uploads///panda __

Why Baidu Inc. (ADR) Stock Is Down Over 5%

By

May. 18 2018, Updated 11:25 a.m. ET

Baidu Inc. (BIDU) is down over 5% in early trading following a press release this morning announcing that its Chief Operating Officer, Qi Lu, is stepping down due to “personal and family reasons.” Mr. Lu had a very short tenure with the company, as he was just hired back in January 2017, and he adds to the running list of executive departures at the Internet search giant.

Adding to the negativity, Credit Suisse downgraded Baidu’s stock to neutral from outperform.  And to be fair, the stock had really been on a run.

 

JP Gravitt

Article continues below advertisement
Advertisement

More From Market Realist