On Thursday shares of U.S. listed Chinese companies fell after top securities regulators said U.S. criminal authorities are investigating accounting irregularities at Chinese companies listed on U.S. stock exchanges.
The following companies that fell are Sohu.com Inc (NASDAQ:SOHU) which dropped 7.8% to $48.99, Baidu Inc (NASDAQ:BIDU) lost 6% to $114, while Sina Corp (NASDAQ:SINA) fell 8% to $74.60.
Robert Khuzami, director of enforcement at the U.S. Securities and Exchange Commission said in an interview, "There are parts of the Justice Department that are actively engaged in this area."
Sohu.com (NASDAQ:SOHU) has a potential upside of 99.3% based on a current price of $49.19 and an average consensus analyst price target of $98.04.
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