BIDU is trading at 4.6% down now at $124.12 amid broad selling in Asian American depositary receipts, which are declining in U.S. trading according to market reports. The decline appears market-driven, as there is no new negative, company-specific headline today.
Recent positive developments that have supported the stock in prior sessions include:
- The potential spinoff and IPO of Baidu’s AI chip unit, Kunlunxin.
- Ongoing progress in the company's AI and autonomous driving initiatives.