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.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool