NEW YORK (AFP) - Chinese search engine Baidu.com has made a big splash on arrival on the US stock market, surging a spectacular 354 percent, recalling the heady days of the dot-com boom of the late 1990s.
By an hour after it made its arrival on the Nasdaq, at midday, the share, traded as a certificate of deposit, had already tripled its value, and some analysts nicknamed it the "Chinese Google."
The certificate ended its first session at 122.54 dollars, almost five times its 27-dollar starting quote.
It was the first time a share finished its first session above 100 dollars since Google began trading in 2004.
Baidu, its name inspired by an ancient poem, refers to a quest for the ideal. Now five years old, it is the sixth most visited site worldwide, and number two in China.
By an hour after it made its arrival on the Nasdaq, at midday, the share, traded as a certificate of deposit, had already tripled its value, and some analysts nicknamed it the "Chinese Google."
The certificate ended its first session at 122.54 dollars, almost five times its 27-dollar starting quote.
It was the first time a share finished its first session above 100 dollars since Google began trading in 2004.
Baidu, its name inspired by an ancient poem, refers to a quest for the ideal. Now five years old, it is the sixth most visited site worldwide, and number two in China.
