Traders Heavily Dumped These 10 Firms on Monday

2. WeRide Inc. (NASDAQ:WRD)

WeRide fell for a fourth straight day on Monday, losing 5.54 percent to close at $6.65 apiece as investor funds flocked to its new competitor following its announcement of developing robotaxis.

Last week, Pony AI Inc. (NASDAQ:PONY) announced that it will develop an autonomous driving technology and offer robotaxi services soon.

The announcement spelled bad news for the company, having earned another competitor in the robotaxi industry.

WeRide Inc. (NASDAQ:WRD) was one of the companies that chip giant Nvidia Corp. is heavily invested in. For its part, WRD uses NVDA’s advanced graphic processors and AI software to power its vehicles.

WeRide Inc. (NASDAQ:WRD) is a global leader in autonomous driving technology, with a presence in over 30 cities across 10 countries. A pioneer in the large-scale commercial deployment of autonomous driving, the company offers a portfolio of five core products, including Robotaxi.