Hesai Group (HSAI) shares plummeted 7.44% during intraday trading on Tuesday, following an announcement by Blue Orca that it has taken a short position in the company. The sharp decline came shortly after Blue Orca, a known short-seller and investment research firm, released its statement, causing investors to react swiftly to the news.

Short-seller reports often contain negative information or allegations about a company's operations, financials, or prospects. While the specific details of Blue Orca's report on Hesai Group were not immediately available, the market's reaction suggests that investors are concerned about potential negative implications for the company. Such announcements from prominent short-sellers can significantly impact stock prices as traders reassess their positions based on the new information.

As the situation develops, investors and analysts will likely be eager to review the full content of Blue Orca's report to understand the specific concerns raised about Hesai Group. The company may also be expected to respond to any allegations or issues highlighted in the short-seller's analysis. In the meantime, the stock's volatility may continue as the market digests this new development and awaits further information.