Why Baidu Shares Are Surging 11% So Far This Week

·2-min read
Why Baidu Shares Are Surging 11% So Far This Week

Shares of Baidu (NASDAQ: BIDU) were up 11% since last Friday's close, as of 11:10 a.m. EDT today, according to data provided by S&P Global Market Intelligence, after it was reported Chinese regulators are looking into forcing rivals like ByteDance and Tencent to display their social media content in internet search results. Baidu is the dominant internet search engine in China. Alphabet's Google is banned from the country, so Baidu has no real competition and owns around 83% of the market.

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