The search giant's early February disclosure that it would soon complete testing of Ernie sparked a rally of 15% for its shares in a single day on Feb. 7. But the chatbot's actual unveiling at a mid-March press conference left many unimpressed. Baidu chief Robin Li's presentation at a media event featured only pre-recorded and no live demonstrations. The stock already began to sag even before the underwhelming event, and has given back all of its brief gains and more.