Baidu: Delisting Fears Overplayed
- Baidu faces a delisting risk due to the HFCA Act where U.S. regulators want access to Chinese audits.
- The company has 2 more years to meet audit requirements.
- The stock is exceptionally cheap at only 9x forward EBITDA estimates due to a massive cash balance.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
- Baidu () received the first-ever permits in China authorizing the company to provide driverless ride-hailing services to the public on open roads in Beijing.
- With these permits issued by the head office of the Beijing High-level Automated Driving
- These licensed cars will join an existing fleet provided by Apollo Go, Baidu's autonomous ride-hailing service.
- Currently, Baidu has the largest autonomous driving fleet in China; company plans to add 30 more such vehicles at a later stage, expanding its fleet to provide more convenient driverless services to the public.