GOOG made a statement loud and clear on Friday when they dumped their entire position in BIDU; watch out world, cause GOOG is going to dominate China. GOOG announced on Friday that it had sold its entire 2.6% stake in the company, and had realized a huge profit in the position. This move can’t be seem as a surprise to anyone who follows GOOG and knows about their ambitions for China. Given China’s surging economy and insatiable demand for new technology, GOOG is devoting a large amount of their resources towards dominating the Chinese Internet landscape, and plans to do so by itself. GOOG traded up over 1% on the day to close at $404.86, about 70 points under its 52 week high of $475.11.
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