Nasdaq 5,000?

Why didn’t I buy shares of (BIDU) when the IPO that priced last night at $27 opened today at $66 per share? Did it really hit $151 this afternoon? Is it 1999 all over again?

Now I know this is the largest search site in China, and only 10% of that country is online today, and people are making a Google (GOOG) comparison, but keep in mind the company is now worth more than $4.3 billion and had first quarter sales of $5.1 million.

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One Thought on “Nasdaq 5,000?

  1. qcontra on August 5, 2005 at 4:23 PM said:


    I was quite “amused,” to say the least. Before lunch I saw Baidu at $102 and shook my head. I came back to find it breaking into the mid-$140’s! The values are so high it makes no sense at all. I suppose this is the result of an awful cross between the China “bubble” and the old Internet stock bubble of before.

    BTW, I enjoy your blog, and have linked my new blog to yours.

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