Baidu Inc (BIDU) Stock Gaps Down Despite Driverless Cars Progress

Baidu Inc (ADR) (NASDAQ:BIDU) shares are declining by 1.21% in the market. The shares are also plunging 3.77% year-to-date through September 13. Compared to this, its competitor Alphabet Inc is outperforming and rising 1.37% YTD. Also, the market is performing better as the market indexes such as Dow Jones and Nasdaq are rising 3.69% and 2.98% respectively, on YTD basis. The company has 27.17 million outstanding shares with daily price range of $180.64-183.78 and 52-week price range of $130.77-217.97. Thus, Baidu’s performance comes in as a surprise after its recent investments in artificial intelligence and virtual reality technologies. The Chinese company recently launched its venture capital firm to shift its focus on artificial intelligence and it making continuous efforts to make a spot in this growing technological field. Baidu has initially invested around $200…


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