10 Stocks Lead Wall Street Downward Spiral

4. WeRide Inc. (NASDAQ:WRD)

WeRide snapped a two-day winning streak on Tuesday, shedding 13.72 percent to close at $9.40 apiece as investors went on a wait-and-see mode for its performance amid this week’s official listing on the Hong Kong Stock Exchange.

In a statement, WeRide Inc. (NASDAQ:WRD) said it would officially debut on the HKEX on Thursday, November 6, joining other US-listed Chinese firms that sought a dual listing to mitigate risks of getting delisted from US exchanges. It would trade under the stock code “0800.”

According to WeRide Inc. (NASDAQ:WRD), it would issue more than 88.25 million Class A shares, comprising international and Hong Kong shares.

The final price for both offerings was set at HK$27.10 apiece, or $10.36 per ADS, or a potential to raise $308 million.

Proceeds from the offer will be used to develop its autonomous driving technology stack, accelerate the commercial mass production and/or operation of L4 fleets, enhance the quality of its autonomous driving products and solutions, and expand its business scale, among others.