Crispr Therapeutics shares tumble after significant earnings miss
In a remarkable display of market confidence, AUR stock has surged to a 52-week high, reaching a price level of $9.07 USD. With a market capitalization of $11.2 billion and a beta of 2.86, InvestingPro data shows the stock typically exhibits high volatility. This peak represents a significant milestone for the company, reflecting a period of sustained growth and investor optimism. Over the past year, AUR has witnessed an impressive 86.78% change, with an exceptional six-month return of 121.84%, underscoring the stock's strong performance and the positive sentiment surrounding the company's prospects. Investors are closely monitoring AUR's trajectory as it continues to navigate the market with robust momentum. According to InvestingPro analysis, the stock appears overvalued at current levels. Discover 12 additional key insights and a comprehensive Pro Research Report available exclusively with an InvestingPro subscription.
In other recent news, Aurora Innovation has announced a strategic partnership with Continental and Nvidia (NASDAQ:NVDA), aiming to deploy driverless trucks at scale. The collaboration plans to integrate Nvidia's DRIVE Thor system-on-a-chip into Aurora's autonomous driving system, with mass production scheduled to start in 2027. Aurora Innovation also plans to launch its driverless trucking service in Texas by April 2025.
In other board-related developments, Dara Khosrowshahi has resigned from Aurora Innovation's board, with Shailen Bhatt appointed as his replacement. Furthermore, Nolan Shenai, General Counsel and Secretary, will step down from his roles in the company effective January 6, 2025.
Wolfe Research initiated coverage on Aurora Innovation with a Peer Perform rating, despite expecting the company to continue incurring adjusted EBITDA losses in the coming years. They anticipate revenues to ramp up to nearly $1 billion by 2028 and more than $3 billion by the end of the decade.
Aurora Innovation has also outlined significant progress in its journey towards commercializing autonomous trucking during its Third Quarter 2024 Business Review Call. Despite a slight delay, the commercial launch of the Aurora Driver in the Dallas to Houston corridor is expected in April 2025. The company reported a 75% increase in pilot revenue year-over-year and remains robust with $1.4 billion in cash reserves.
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