Baidu Sells Part of Its Ctrip Stake, Ctrip Shares Lose Altitude [The Motley Fool]
CTRIP.COM INTL (CTRP)
Last ctrip.com intl earnings: 9/9 06:00 pm
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Source: The Motley Fool
Baidu Sells Part of Its Ctrip Stake, Ctrip Shares Lose Altitude Andrew Murtha Sep 0, 09 at :0PM On Sept. , Ctrip.com International ( NASDAQ:CTRP Baidu NASDAQ:BIDU The pricing on the secondary offering is significantly lower than the share price on the day of the Baidu sale announcement, and it will mean that Baidu may haul in quite a bit less than the initial $ billion estimate. Ctrip shares began their initial descent following the Baidu disclosure, dropping 7.% on Sept. and tumbling .7% lower on Sept. 7 to close the week at $9.0. Image Source: Getty Images Baidu acquired a % voting stake in Ctrip Roadblock after roadblock News of Baidu's reduced investment is yet another challenge for Ctrip, which has been hurt by a slowing Chinese economy, the U.S.-China trade dispute, political instability in Hong Kong, and tensions between China and Taiwan. These pressures prompted Ctrip to lower its year-over-year third-quarter revenue growth forecast A good long-term investment? long-term grow
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