Stock Track | WeRide Inc. Soars 5.07% Intraday on ARK Invest's New Position and Bank of America's Bullish Rating

Stock Track12-04 01:44

WeRide Inc. (WRD) surged 5.07% during intraday trading on Wednesday, driven by strong investor confidence following ARK Invest's new position and Bank of America's optimistic outlook.

ARK Invest, led by Cathie Wood, initiated a position in WeRide by purchasing 417,000 shares, signaling long-term confidence in the company's growth prospects. Additionally, Bank of America issued its first coverage report on WeRide, assigning a "Buy" rating with price targets implying upside potential of ~45.6% for U.S. shares and ~50% for Hong Kong shares.

Further boosting sentiment, WeRide's recent partnership with Uber for Level 4 fully driverless robotaxi operations in Abu Dhabi highlights its expanding footprint in the autonomous vehicle sector.

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