Exclusive: Rumors Baidu (BIDU) Leaving NASDAQ Not Accurate

Baidu.com (NASDAQ: BIDU) shares declined Thursday morning amid rumors it plans to delist from the NASDAQ. The rumors are based on comments from Baidu’s CEO Robin Li but were sensationalized and aren't based on a realistic scenario, according to people familiar with the situation.

The rumor caught the attention of traders after a headline in techinasia.com said, "Baidu Considers Ditching US Stock Market for IPO in China." The website has since updated the article in response to comments from a Baidu spokesperson downplaying the idea.

For background, the original source of the rumor was a Bloomberg article. As the Bloomberg article states, Baidu's CEO has said publicly he would like to dual list Baidu shares in China. However, Li’s comments about leaving the Nasdaq refer to a hypothetical situation in which American investors never came to understand the wisdom of the strategic move Baidu is making into local services.

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