On July 17, MOMENTA-W fell 5.07% in regular trading, trading at HK$263.4/share with turnover of HK$16.01 million, extending its post-IPO decline significantly below the HK$295.6 offering price.
The stock has been under sustained selling pressure since its July 8 listing, when it debuted with a brief surge above HK$314 before closing near the offering price. By its fourth trading day, shares formally broke below the IPO price despite the green shoe stabilization mechanism still being active. The cumulative decline from the offering price has now widened to approximately 10.9%.
Market concerns have intensified around competitive positioning. Industry data shows Momenta's ranking in smart driving benchmarks slipped from first place in late last year to sixth by early this year, as rivals including WeRide and Horizon Robotics gained ground through newer AI paradigms. While the company holds 65% market share in third-party city NOA solutions with over one million vehicles deployed, questions persist about whether its Physical AI narrative can sustain premium valuations amid narrowing but still ongoing net losses.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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