Scalper1 News
China’s Internet regulator said it will team up with the national health commission and another agency to probe Baidu ( BIDU ) over the death of a university student who had used the Chinese search engine to look for treatment for his cancer. The 21-year-old university student, Wei Zexi, died last month of a rare form of cancer, Reuters reported . Wei had posted criticism online accusing Baidu of promoting false medical information, as well as the hospital for misleading advertising in claiming a high success rate for the experimental treatment, state radio said. Baidu said it would fully cooperate. In 2010, China’s state-run television accused Baidu of promoting counterfeit drugs through its search engine. U.S. shares of Baidu fell 7.9% in the stock market today , to 178.91. Shares fell through their 50-day moving average, but found support just above the 200-day line. Baidu stock broke out of a cup-with-handle base with a 197.60 buy point on Friday, hitting a four-month intraday high of 201. But the stock has now undercut that entry area. Scalper1 News
Scalper1 News