Why Aurora Innovation Stock Was a Standout This Week
On Wednesday autonomous truck developer Aurora Innovation (NASDAQ: AUR) reported a dog of a fourth quarter on paper, with no revenue and a net loss approaching $200 million. Yet its stock rocketed well higher, rising by 30% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence. Here's why that happened.Since Aurora is still a development-stage company, it's safe to say that few investors or analysts were shocked with that bottom-line deficit. After market hours on Wednesday, it reported that its bottom line was in the red to the tune of $193 million ($0.11 per share), which at least wasn't much deeper than the $192 million it shed in the same quarter of 2023. No revenue appeared in the financials. But that might not be the case for too much longer. Aurora revealed in a shareholder letter itemizing the financials that it will launch commercial operations in April.Continue reading
On Wednesday autonomous truck developer Aurora Innovation (NASDAQ: AUR) reported a dog of a fourth quarter on paper, with no revenue and a net loss approaching $200 million. Yet its stock rocketed well higher, rising by 30% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence. Here's why that happened.
Since Aurora is still a development-stage company, it's safe to say that few investors or analysts were shocked with that bottom-line deficit. After market hours on Wednesday, it reported that its bottom line was in the red to the tune of $193 million ($0.11 per share), which at least wasn't much deeper than the $192 million it shed in the same quarter of 2023. No revenue appeared in the financials.
But that might not be the case for too much longer. Aurora revealed in a shareholder letter itemizing the financials that it will launch commercial operations in April.
