Stock Track | MOMENTA-W Plummets 5.23% Intraday as Profit-Taking Continues After L4 Robotaxi Permit Catalyst

Stock Track07-24

MOMENTA-W shares tumbled 5.23% in early intraday trading on Friday, extending a multi-day slide as investors continued to lock in gains following a recent regulatory breakthrough.

The autonomous driving firm surged earlier in the week after announcing it had secured a Shenzhen Intelligent Connected Vehicle L4-level Robotaxi road test permit. However, with the positive news now largely priced in, short-term profit-taking pressure has intensified, dragging the stock lower over the subsequent sessions. The company’s ongoing loss-making status and lack of near-term breakeven prospects further eroded fundamental support for the share price, leaving it vulnerable to a correction.

MOMENTA-W remains a leading player in the intelligent driving space, ranking first globally among independent solution providers in city NOA deployment volume, but its early-stage investments in L3/L4 autonomy continue to weigh on near-term profitability.

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