In the race for investor favor among a group of recently listed smart driving tech stocks, Black Sesame International Holding Ltd. (2533.HK) is shaping up as a dark horse. Six months after its trading debut last August, the stock was down about 10% from its IPO price as of Monday, as investors worried about the relatively small size of its customer pool.
Those same investors appeared to receive some encouragement from a company profit alert issued late Monday, sending Black Sesame’s shares up 3.5% in Tuesday morning trade. Among other things, the announcement showed the company continued to post strong double-digit revenue growth in the second half of last year, though at a slower rate than the first half.
And even after the rally, the stock is still down from its IPO price by about 6%. That makes the company the odd horse out in a field of newly listed smart driving technology companies whose shares have nearly all risen since their recent listings. Shares of Horizon Robotics (9660.HK) are up around 80% since their debut in late October, while Minieye (2431.HK) is up nearly 60% from its IPO price last December.