Hyundai Motor Surpasses 700,000 Won for the First Time Ever
Robot-Related Stocks Surge
On May 13, Hyundai Motor Company's stock price surged nearly 10% on continued expectations for its robotics business, surpassing 700,000 won for the first time in history.
According to the Korea Exchange, Hyundai Motor Company closed at 710,000 won on this day, up 64,000 won (9.91%) from the previous day. This marks the first time Hyundai Motor Company has ever exceeded 700,000 won.
The stock opened higher and continued to gain momentum throughout the session, ending the day at its intraday high.
On the same day, other companies in the group also hit new 52-week highs during trading, with Hyundai Mobis rising 18.43% and Hyundai AutoEver up 13.66%.
Investor sentiment was boosted as Boston Dynamics, the robotics affiliate of Hyundai Motor Group, recently released a video demonstrating the operation of its humanoid robot 'Atlas'. Continued optimism about the robotics business and expectations surrounding Boston Dynamics' potential listing on the NASDAQ in the United States further fueled buying momentum.
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Industry sources indicate that a decision on whether to pursue a NASDAQ listing for Boston Dynamics could be made as early as next month.
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