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Why WeRide Stock Soared Today

TheMotleyFool

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Shares of WeRide (NASDAQ: WRD) were flying higher on Wednesday. The company's stock spiked 21.5% as of market close, while the S 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) lost 1.6% and 1.4%, respectively.

The autonomous driving company reported its Q1 numbers before the market opened today, as well as announcing a share repurchase program.

While WeRide's revenue only grew by less than 2% year over year (YOY), the company nearly doubled its robotaxi sales. The global robotaxi market is expected to be quite substantial. WeRide's continued and early success here is impressive.

Source Fool.com

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