Why WeRide Inc. (WRD) Went Up on Tuesday?

We recently published a list of 10 Firms Kick Off Shortened Trading Week With Impressive Gains. In this article, we are going to take a look at where WeRide Inc. (NASDAQ:WRD) stands against firms that kick off shortened trading week with impressive gains.

The stock market kicked off the shortened trading week on a positive note, with all major indices finishing in the green territory as investors continued to monitor more corporate earnings results.

The S&P 500 led the charge among its peers, recording a modest 0.24 percent gain. The Dow Jones and the tech-heavy Nasdaq were similarly up, albeit posting lackluster gains of only 0.02 percent and 0.07 percent, respectively.

In comparison, 10 companies delivered stronger performances thanks to continued investor confidence. One company in particular stood out for jumping more than 100 percent in just two trading days.

To come up with Tuesday’s top performers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

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WeRide Inc. (NASDAQ:WRD)

WeRide Inc. (NASDAQ:WRD) resumed a four-day winning streak on Tuesday, soaring by another 28.25 percent to close at $40.40 apiece, as investors continued to snap up shares following Nvidia Corp.’s purchase of 1.7 million of WRD stocks.

Tuesday’s closing price already marked a whopping 135-percent jump from its finish of $17.17 on Thursday, or a day before NVDA submitted its 13F Holdings Report.

NVDA’s investment in WRD, a Chinese robotaxi company, represented a vote of confidence among investors, especially with the giant chipmaker being one of the key players in technological advancements, particularly in the Artificial Intelligence sector.

Apart from WeRide (NASDAQ:WRD), the giant chipmaker also held stakes in Recursion Pharmaceuticals, Nebius, Arm Holdings, and Applied Digital.

According to an analyst last week: “There is no greater vote of confidence than Nvidia taking a stake in your company.”

Overall, WRD ranks 1st on our list of firms that kick off shortened trading week with impressive gains. While we acknowledge the potential of WRD as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WRD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap

Disclosure: None. This article is originally published at Insider Monkey.