Hyundai Motor Surpasses 700,000 Won for the First Time Ever
Robot-Related Stocks Surge
On May 13, Hyundai Motor Company's share price surged by nearly 10% on continued optimism about its robotics business, surpassing 700,000 won for the first time ever.
According to the Korea Exchange, Hyundai Motor Company closed at 710,000 won, up 64,000 won (9.91%) from the previous day. This marks the first time Hyundai Motor Company has exceeded 700,000 won.
The stock started higher and continued to climb throughout the session, finishing at its intraday high.
On the same day, other Hyundai Motor Group affiliates such as Hyundai Mobis (up 18.43%) and Hyundai Autoever (up 13.66%) also hit new 52-week highs during trading.
Investor sentiment has been fueled by continued expectations for robotics, especially after Hyundai Motor Group’s robotics affiliate Boston Dynamics recently released a video demonstrating the humanoid robot 'Atlas.' The optimism over robotics has led to strong buying, further boosted by expectations that Boston Dynamics might be listed on the US Nasdaq.
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Industry insiders suggest that a decision on whether Boston Dynamics will pursue a Nasdaq listing could be made as early as next month.
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