Ehang Holdings Ltd is trading 10.2% down at $8.29 after UBS abandoned its Buy rating and significantly lowered its outlook for the company.
- The bank reportedly slashed its forecasts by up to 70%, raising concerns regarding whether the firm's current valuation remains justified.
- The sell-off is being compounded by a broader risk-off environment, with the Nasdaq and S&P 500 both trading lower as investors rotate out of growth-oriented stocks.