Why WeRide Stock Sank Today
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%.
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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.
In a report published today, The Wall Street Journal cited recent comments from Pony's chief technology officer, Tiancheng Lou, stating that the new software platform has the company on the verge of shifting into profitability. Lou said that software optimization is allowing Pony to produce it most advanced automated vehicle system at 70% lower cost.
Recent gains for Pony's stock reflect justifiable excitement surrounding its new robotaxi technologies, and it's reasonable to expect that continued wins for the company will create competitive pressures for WeRide stock.
On the other hand, WeRide has mostly been focused on autonomous buses and street-cleaning technologies and less on robotaxi fleets. Pony's wins could close off growth avenues for WeRide, but its strengths don't necessarily present an existential threat at this point.
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Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Why WeRide Stock Sank Today was originally published by The Motley Fool
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