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!