May 12, 2010 10:44 AM EDT The volume in
Baidu (Nasdaq:
BIDU), on a 10-for-1
stock split
adjusted basis, is now above the average.
Before the split
shares, Baidu traded about 1.5 million shares per day on average. This would make the split adjusted average volume 15 million shares.
Shares of Baidu have already traded 16 million shares and it is only 10:40AM ET. Shares are on-pace to
trade
about 100 million today.
So while
stock splits due nothing to change the company's fundamentals, this shows that they are at times extremely bullish for investors sentiment and allow investors that have remained on the sidelines to get involved.
Shares of Baidu are up $4.50 to $76. Pre split that would have been a move of $45 to $760.
StreetInsider.com - Baidu (BIDU) Passes Split-Adjusted Average Daily Volume Already, On Pace for 100M Shares
