Friday’s 10 Worst Performing Stocks

5. Hesai Group Inc. (NASDAQ:HSAI)

Hesai Group dropped for a third straight day on Friday to end at $19.80 apiece as investors took profits following an all-time high while disposing of shares to mitigate risks from the ongoing trade tensions between the US and China.

Earlier this week, HSAI said it bagged a new deal with a leading European OEM, which it refused to identify, to supply advanced ultra-long-range automotive lidars for the latter’s upcoming platform, including both internal combustion engine (ICE) and electric vehicle (EV) models.

“This multi-year program will last into the next decade, marking it the largest global program for the automotive lidar industry,” it said.

Additionally, HSAI secured a new design win with China’s 5th largest electric vehicle maker for the supply of its ATX lidar, which is expected to enhance the EV’s intelligent driving systems.