"Priced at $15.50 per American Depositary Share (ADS) in its initial public offering, the stock has tumbled roughly 25% to around $11.53 per share amid broader market jitters and sector headwinds. Harsher still, shares languish 74% below the stratospheric peak of $44 per share they hit in February. That's when ( NvidiaNASDAQ:NVDA) unveiled a $24.7 million, 1.7 million-share stake that ignited a trading frenzy, doubling the stock's value in days."
"Yet, the hype has faded, leaving Nvidia's investment nursing an almost 20% paper loss at current prices. On Friday, though, signs of life returned as WRD surged 10% after announcing its Robobus snagged Belgium's first federal Level 4 autonomy test permit. Once testing wraps, the vehicle will shuttle passengers along an 8 kilometer Leuven-Heverlee loop for two months, partnering with local transport operator De Lijn and the City of Leuven."
WeRide priced its IPO at $15.50 per ADS and now trades around $11.53, down roughly 25% from the IPO price and 74% below its February $44 peak. Nvidia purchased a $24.7 million, 1.7 million-share stake tied to a 2017 partnership that powers WeRide's AI-driven fleet with the DRIVE Hyperion platform. The initial surge faded and Nvidia's holding shows about a 20% paper loss. WRD jumped 10% after securing Belgium's first federal Level 4 autonomy test permit for its Robobus, which will run an 8-kilometer Leuven-Heverlee loop for two months with De Lijn and the City of Leuven. The permit allows demonstration of technology in real-world public-road conditions and may set a precedent for future European autonomous vehicle testing amid ongoing market and sector headwinds.
Read at 24/7 Wall St.
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