BIDU has been in a multi year bear market after the parabolic spike back in 2021. The narrative is clear-- their growth engine was sputtering, they've faced increasing competition from other firms like PDD, and there's this massive overhang over US/China relations.

Yet we have seen a solid amount of institutional accumulation this year:

The tide could be turning, and the stock has started to lift. New tailwinds could show up, especially if their multi-billion Capex in AI starts to pay off.

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