Why WeRide Inc. (WRD) Went Up On Tuesday
WeRide Inc. jumped by 18.22 percent on Tuesday to end at $10.77 apiece following its official expansion into Saudi Arabia with the deployment of its autonomous driving vehicles into the said country.
In a statement, WeRide Inc. (NASDAQ:WRD) said it deployed robotaxis and robobus in Riyadh and AlUla as part of its preparation works for its upcoming robotaxi operations under the Uber app.
WeRide Inc. (NASDAQ:WRD) said it is set to launch on Uber over the next few months, with full commercial operations in late 2025.
Additionally, the expansion supports Saudi Arabia's Vision 2030 ambitions to build smart, sustainable cities by enhancing road safety, traffic management, and introducing innovative mobility solutions.
A pick-up and delivery truck speeding down a busy city street.
Earlier this month, WeRide Inc. (NASDAQ:WRD) fully launched driverless Robotaxi testing in Abu Dhabi—the first deployment of its kind in the region. It will also be extending its Robotaxi service coverage to Al Maryah and Al Reem Islands.
Overall, WRD ranks 3rd on our list of best-performing stocks. While we acknowledge the potential of WRD, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than WRD and that has 10,000x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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