WeRide-W (00800) stock is soaring 7.81% in intraday trading, reaching HK$19.75 with a trading volume of HK$5.18 million. The surge comes on the heels of several positive developments for the autonomous driving technology company.
The primary catalyst for the stock's jump appears to be WeRide's recent announcement that it has secured Switzerland's first fully driverless license. Issued by the Swiss Federal Roads Office on November 20, this permit allows WeRide's Robotaxi to operate without a safety driver on public roads in Zurich's Furttal region. This achievement makes WeRide the only tech company globally to hold autonomous driving licenses in eight countries, including Switzerland, China, the UAE, Saudi Arabia, Singapore, France, Belgium, and the U.S., underscoring its successful global expansion strategy.
Investors are also likely anticipating WeRide's upcoming third-quarter financial results, scheduled for review at a board meeting on November 24. Adding to the positive sentiment, Everbright Securities recently initiated coverage on WeRide with a "Buy" rating, projecting substantial revenue growth for 2025-2027. The firm highlighted WeRide's unique market position and potential for valuation upside, which may be contributing to the current stock rally.
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