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In an initial offering that rivaled Google’s, shares of the Chinese search engine Baidu.com tore out of the gates at $27, quickly rising to $66, and then soaring to $122.54.

“This is the biggest pop since the Internet bubble burst,” said Alan Qiu, a former stock trader and managing director at Ucdao.com, an online gaming and trading company based in Shanghai. “It’s got the Google concept, and people think Google might acquire it. And then there’s the China growth factor - everyone wants to be here.”

[via NY Times]

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