Why WeRide Stock Soared Today
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WeRide's stock surged 18.2% following its announcement of expansion into Saudi Arabia in partnership with Uber, allowing for robotaxi services. This significant move positions WeRide as a pioneer in the Middle East's autonomous vehicle market. Additionally, the company revealed a $100 million share repurchase program, reflecting confidence in its financial health and commitment to shareholder value. Despite operating at a loss, WeRide is seen as a promising investment opportunity amid competition from major players like Tesla and Waymo.
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