On September 28, Aurora Innovation fell 5.05% in regular trading, trading at $5.735 per share, with turnover of approximately $34.37 million. The decline extends the stock's recent downtrend as the market digests a series of forward-looking operational targets alongside multiple overhanging negatives.
Aurora recently outlined ambitious deployment goals, targeting over 30,000 driverless trucks in operation by 2030 with projected annual revenue exceeding $5 billion. In the near term, the company expects 200 driverless trucks operational by year-end, generating annualized revenue of roughly $80 million, scaling to over 1,000 trucks and approximately $200 million in revenue by next year. Logistics firm Hirschbach has committed to owning and operating 500 trucks under a driver-as-a-service agreement, with deliveries beginning next year.
However, investors remain cautious about the feasibility of these long-range targets. Sentiment has been further weighed down by Uber's August divestiture of 72 million Aurora shares at $6.55 each, netting approximately $472 million, and by Q2 results that showed a per-share loss of $0.14, missing the consensus estimate of $0.12. The combination of aggressive forward projections and near-term financial underperformance continues to pressure the stock.
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