On July 29, MOMENTA-W declined 3.45% in regular trading, trading at HKD 236.6 per share, with turnover of HKD 1.5435 million. The stock has now fallen below the brief rebound level seen the previous session.

The decline comes just one day after the stock gained 3.1% on news that its Robovan (unmanned logistics vehicle) business officially landed in Suzhou Xiangcheng, expanding into express delivery and nighttime delivery scenarios. However, the positive catalyst appears to have been quickly digested. The stock has been under sustained profit-taking pressure since its July 21 spike of nearly 10% driven by its Shenzhen L4 Robotaxi road test permit. Since that peak, the stock has declined sharply from intraday highs of HKD 284.6 to current levels, representing a drop of approximately 17% and falling well below its July 8 IPO price of HKD 295.6.

UBS initiated coverage on the company with a Buy rating and a target price of HKD 360, citing expectations for ADAS installations to grow from 51,000 units in 2025 to 2.5 million units by 2028.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)