Why Baidu Soared 41.8% in November
Shares of Chinese search and artificial intelligence (AI) giant Baidu (NASDAQ: BIDU) roared 41.8% in November, according to data from S&P Global Market Intelligence.
Many Chinese stocks had an awfully good November, even as the country erupted in anti-zero-COVID protests. Paradoxically, that very unrest caused investors to anticipate an easing of the strict lockdowns that had plagued the country since last March when Chinese authorities sought to restrict movement across major cities to avoid the spread of the more contagious omicron variant.
On top of the anticipated reopening, Baidu also reported third-quarter earnings, beating expectations for both revenue and earnings per share.
Source Fool.com
