AI Company Behind Robot Vision Sees $800 Million Market Cap Vanish in a Day

On July 1 on the Nasdaq, Cognex Corporation (CGNX) closed at $67.45, down 5.41% from the prior session.

Its market capitalization stands at roughly $11.2 billion (about KRW 15.7 trillion), and the company lost approximately $576 million (around KRW 800 billion) in a single day.

Trading volume reached about 2.72 million shares.

That same day, Truist Financial raised its price target on Cognex from $61 to $71 while maintaining a “hold” rating. The Wall Street consensus remains a “moderate buy” with an average target of roughly $71. In its first-quarter results announced in May, Cognex reported revenue of $268 million—a 24% year-over-year increase—and an adjusted EPS of $0.34, both ahead of market expectations and bolstering hopes for a recovery in factory automation investment.

Headquartered in Natick, Massachusetts, Cognex is a leading provider of industrial machine-vision systems and barcode readers. Its cameras and deep learning–based software serve as the “eyes” of robots and production lines across automotive, electronics, logistics and other industries.