$BIDU: Trumps First Target to Deslist

May 30, 2020

The rally at the end of this Friday's close was systemic. It was the news that the U.S. president (after the markets were already in anticipation as he had tweeted there would be significant news). The press conference was not positive. The things that came out of it was both anticipated and expected, which is what the markets are operating on right now. They anticipated that the U.S. would begin to win back exceptions from Hong Kong as a semi-autonomous trading partner because of Chinas move to consolidate power under grounds of national security. There was also mention of delisting Chinese companies on the American stock exchanges, which would be huge for companies such as BIDU.