The Bulls are Charging on This Internet Stock

Shares of Chinese Internet security and search provider Qihoo 360 (NYSE:QIHU) climbed over 9 percent on Monday and hit a new 52-week high of $28.16 per share early in the session. Trade volume was tremendously high, over four times the three-month daily average.

Why Are the Bulls Charging Now?

Qihoo 360 has been the favorite underdog for investors for a while. Shares are up over 33 percent over the last six months and over 63 percent this year to date. Qihoo’s base is in Internet security its newly-released search engine rapidly claimed 10 percent of the market in China and turned a lot of heads, catalyzing much of the stock’s recent gains.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

Qihoo’s major competitor in the search space is Baidu (NASDAQ:BIDU), which claims 73.5 percent of the market. However, shares of the larger search provider are down over 22 percent this year to date despite the company’s Google-esque control of the search market in China. Investors don’t seem to have a lot faith in the company’s ability to maintain a technically superior product to Qihoo.

A growing history of competency and an increasingly sharp competitive edge against its major competitors provided the groundwork for some bullish coverage of Qihoo’s stock over the weekend…

More Articles About:   , , , , , ,