Baidu Inc (BIDU): Today's Featured Technology Laggard
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.Baidu (BIDU) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day down 1.3%. By the end of trading, Baidu fell $11.98 (-7.3%) to $150.93 on heavy volume. Throughout the day, 9,989,351 shares of Baidu exchanged hands as compared to its average daily volume of 4,795,100 shares. The stock ranged in price between $148.16-$162.99 after having opened the day at $162.61 as compared to the previous trading day's close of $162.91. Other companies within the Technology sector that declined today were: Eltek (ELTK), down 23.6%, Rubicon Project (RUBI), down 16.4%, Net Element (NETE), down 16.0% and Sequans Communications (SQNS), down 15.4%.
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