Why WeRide Stock Soared Today
Shares of WeRide (NASDAQ: WRD) flew higher on Tuesday. The company's stock spiked 18.2% as of market close. The jump comes as the S 500 rose 2%, and the Nasdaq Composite rose 2.4%.
The autonomous driving company's stock jumped after it announced its expansion into Saudi Arabia.
The Chinese company announced today that it will launch operations in Saudi Arabia in partnership with , where its robotaxis can be hailed. The company has already begun testing its vehicles in the country, and full operations are expected before the end of the year. The move into Saudi Arabia marks a significant expansion for the company and puts it on track to be one of the first companies operating commercially on a large scale in the Middle East.
Source Fool.com
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