Why WeRide Stock Sank Today
Shares of WeRide (NASDAQ: WRD) saw another day of big sell-offs Monday as investors continue to bet on a rival. The company's share price closed out the daily session down 5.5%, and the stock had been off as much as 14.3% earlier in today's trading. Shares for rival Pony AI jumped 47.2% in the session.
Rapid gains for Pony stock on the heels of recent tech announcements have corresponded with big sell-offs for WeRide. While Pony stock is now up 143% over the last month, WeRide is down 22%.
Pony unveiled its new driverless-vehicle software and robotaxi line last week, and excitement surrounding its competitor's new tech helped spur big sell-offs for WeRide. The slide intensified last week after Tencent announced a new partnership with Pony, and the valuation pullback is continuing this week as new details about Pony's software emerge.
Source Fool.com
Tencent Holdings Ltd. Stock
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