Baidu with self-driving Robotaxis is taking over China !
so we are looking at a parabolic rise on BIDU in the last weeks
the reason is the approval from China on Baidu distribution of self-driving EV robotaxis, I will not go into full details as the full cover of fundamentals with technicals is on our website but I will say this :
Baidu is going for a mega move in cooperation with Automobile Group (GAC) - we are looking at a monster at its making, the move will mean that Baidu will manufacture their own EV self-driving cars in GAC factories and we are looking at an untapped market of over 4 B a year.
the repercussions are huge as this will impact transportation in all segments - self-driving buses/delivery trucks and many others.
the demand at the moment for Robtaxis in China is over 2500 orders a day ( all orders are free at the moment as part of the experiment Baidu is doing with the Chinese government and the taxis have a safety driver that monitors the car with minimum intervention) and is expected to grow to over 40 cities in the next 3 years
we can see china pushing very hard for the whole AI and EV industry to take a lead on the US and the self-driving Tesla cars that were promised to us from Elon in 2017 and never really arrived - not in full force at least.
Technical :
Stock is to extended to say let's jump in but acc to the volume in the last week we are seeing only a rise in Buying volume so maybe a correction will not come as soon as we would think - if one would come it will take the stock to the 170 level, but I don't see it coming in the next few days at least
Stock is bound to cross 200$ and once we get a correction out of the way I see Baidu on 300$ before June 2021! the market is led by younger investors that value the future potential growth above the current earnings and EPS of the company - which Baidu has a very big drop on in the last year (11% growth for 5 years and 0% growth in the last year in revenue)
in a monthly chart, we can see the all-time Highest High is 283$ - notice the stock is completed its cycle in 50% below that.
Remember you looked at this graph and this stock before it's in its 200 levels cause it won't last long
Trade safe and happy holidays!
the reason is the approval from China on Baidu distribution of self-driving EV robotaxis, I will not go into full details as the full cover of fundamentals with technicals is on our website but I will say this :
Baidu is going for a mega move in cooperation with Automobile Group (GAC) - we are looking at a monster at its making, the move will mean that Baidu will manufacture their own EV self-driving cars in GAC factories and we are looking at an untapped market of over 4 B a year.
the repercussions are huge as this will impact transportation in all segments - self-driving buses/delivery trucks and many others.
the demand at the moment for Robtaxis in China is over 2500 orders a day ( all orders are free at the moment as part of the experiment Baidu is doing with the Chinese government and the taxis have a safety driver that monitors the car with minimum intervention) and is expected to grow to over 40 cities in the next 3 years
we can see china pushing very hard for the whole AI and EV industry to take a lead on the US and the self-driving Tesla cars that were promised to us from Elon in 2017 and never really arrived - not in full force at least.
Technical :
Stock is to extended to say let's jump in but acc to the volume in the last week we are seeing only a rise in Buying volume so maybe a correction will not come as soon as we would think - if one would come it will take the stock to the 170 level, but I don't see it coming in the next few days at least
Stock is bound to cross 200$ and once we get a correction out of the way I see Baidu on 300$ before June 2021! the market is led by younger investors that value the future potential growth above the current earnings and EPS of the company - which Baidu has a very big drop on in the last year (11% growth for 5 years and 0% growth in the last year in revenue)
in a monthly chart, we can see the all-time Highest High is 283$ - notice the stock is completed its cycle in 50% below that.
Remember you looked at this graph and this stock before it's in its 200 levels cause it won't last long
Trade safe and happy holidays!
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