Why Baidu Stock Plunged Today
The Chinese search leader's AI investments aren't paying off quickly enough to pick up the slack for its slowing legacy business.
Overview
Shares of Baidu (NASDAQ: BIDU) fell sharply on Tuesday, falling as much as 11.6%. As of 11:32 a.m. ET, the stock was still down 11.4%.
The catalyst that sent the Chinese tech giant lower was news that its heavy investment in artificial intelligence (AI) isn't paying off quickly enough for Wall Street.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.