MOMENTA-W's stock plummeted 8.82% during intraday trading on Friday, extending a significant decline below its initial public offering price.
The stock has been under sustained selling pressure since its recent listing, with market concerns intensifying around its competitive positioning. Industry data indicates the company's ranking in key smart driving benchmarks has slipped from first to sixth place, as rivals including WeRide and Horizon Robotics gain ground with newer AI technologies.
While MOMENTA-W maintains a dominant market share in third-party city navigation solutions, questions persist about whether its Physical AI narrative can justify premium valuations amid ongoing net losses, contributing to the continued downward pressure on the stock price.
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