Weride’s shares have skyrocketed since its Chinese headquarters was published on NASDAQ last year.
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Shares traded by NASDAQ, a full-fledged self-driving vehicle technology supplier, rose another 28% on Tuesday, $40.40 after AI-CHIP supplier Nvidia bought stocks at the company at the end of last week. It concluded with.
Profits on Tuesday rose 83% on Friday after Nvidia showed 1.7 million share purchases due to SEC filings. Combined, Weride’s stock has more than doubled in two sessions, bringing its market capitalization to $11 billion. The US stock market closed on Monday.
Weride, which holds autonomous driving licences in China, the United Arab Emirates, Singapore and the United States, was published on Nasdaq on October 28th at $15.50 per US depository share. Privately owned deployments at the same time as the IPO were expected to raise $458 million. Investors include electric bus suppliers Zhengzhou Yutong Group, Qiming Venture Partners, Shanghai Headquarted Investment Company and Alliance Ventures. Board members include Duane Kuang of Qiming, a past member of the Forbes Midaslist.
Headquartered in a city in Guangzhou, southern China, Werid was formed in 2017. Founder and CEO Tony Han, who manages a 7.6% stake, worked as an associate professor in the Department of Electrical and Computer Engineering at the University of Missouri from 2007 to 2017. He was the chief scientist in the autonomous driving division of China’s search heavyweight Baidu Inc. from 2014 to 2017. Han has a bachelor’s degree. He holds a Master’s degree in Electrical and Computer Engineering from Beijing Jiaotong University, a Master’s degree in Computer Engineering from the University of Rhode Island, and a PhD in Electrical and Computer Engineering from the University of Illinois Urbana-Champaign University.
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