Breakout To New Highs In Baidu (BIDU)

Baidu BIDU reported strong earnings after the closing bell on Thursday. Today the stock is breaking out to new all time highs on strong volume. BIDU shares have risen 4.90% to $107.50. More than 22 million shares have already traded hands compared to a daily average of around 12.46 million. BIDU has been an incredible growth story. The company is a Chinese-language internet search provider, so the bullish thesis behind the stock is not terribly difficult to understand. Think of BIDU as the Google GOOG of China, only a lot smaller - for now. It this stock continues to rise at its current trajectory, that may not be the case forever. BIDU shares have gained around 1,435% over the last 5 years. Year-to-date, the stock has added 161% and the valuation suggests as much. BIDU trades at a trailing P/E of 111, a forward multiple of 49, and a PEG ratio of 1.21.