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Baidu: Expect Big Gains This Year

1:14 am on Apr 5, 2012 (gmt 0)

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Baidu: Expect Big Gains This Year [seekingalpha.com]

Last week, Baidu was one of NASDAQ's most traded stocks, with a net volume up nearly 54% from the previous three-month average. The unusually high volume change likely signals that hedge funds and momentum traders are jumping on a bandwagon ahead of a major trend. In this case, I think many investors are predicting an increase in the Baidu stock price.

These bullish attitudes are most likely due to the recent announcement that Baidu is creating its very own cloud storage service: Baidu WangPan. This service sets Baidu up to compete against online storage services such as Dropbox, Apple's (AAPL) iCloud, and Microsoft's (MSFT) SkyDrive. WangPan reportedly allows its users to store up to 15GB of data online, free of charge.