$MOMENTA-W(06880.HK), $HORIZONROBOT-W(09660.HK) both saw slight gains, while $Pony AI(PONY.US) and $Hesai(HSAI.US) remained basically flat. The entire sector from Robotaxi to smart driving chips has been consolidating for a while.

News about opening new cities and expanding capacity, as well as OEM design wins, comes every now and then, but none are strong enough to pull the stock price out of its stagnant market range. The valuations set during the last funding wave are still being slowly digested.

Should we add positions during this consolidation phase waiting for catalysts, or wait for a breakout with volume before chasing? Historical patterns for similar targets show that the price surge on the day news lands is usually large enough, making the time cost of early positioning relatively high—so let's watch for now and save our ammunition for the announcement dates of design wins or city openings.