Hesai Group (HSAI) saw its stock price plummet by 7.44% during Tuesday's trading session, following an announcement by Blue Orca Capital that it has taken a short position in the company. This significant drop has caught the attention of investors and market analysts alike.

Blue Orca Capital, a well-known short-selling research firm, publicly declared its short position on Hesai Group. Short-selling is a trading strategy where investors bet on a stock's price declining. When a reputable firm like Blue Orca announces such a position, it often leads to increased selling pressure and can cause a stock's price to fall rapidly.

While the specific reasons behind Blue Orca's short position have not been detailed in the available news, such announcements typically suggest that the research firm has identified potential issues or overvaluation in the target company. Investors are likely to closely monitor any forthcoming reports or analyses from Blue Orca to understand the rationale behind this bearish stance on Hesai Group. As the situation develops, market participants will be watching for any response from Hesai Group and any potential impact on the company's long-term prospects.