We recently compiled a list of the 10 Firms Kick Off 2025 Trading in The Red. In this article, we are going to take a look at where Aurora Innovation Inc. (NASDAQ:AUR) stands against the other stocks.
The stock market finished the first trading day of the year in the negative territory—a fifth straight day, over the lack of catalysts to spark trading appetite.
The Dow Jones Industrial Average was down the most by 0.36 percent, the S&P 500 decreased 0.22 percent, and the Nasdaq Composite dipped 0.16 percent.
Ten companies also kicked off trading mirroring the broader market downturn. In this article, let’s explore the reasons behind their decline.
To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
A closeup of a self-driving hardware unit inside the dashboard of a passenger vehicle.
Aurora Innovation Inc. (NASDAQ:AUR)
Share prices of Aurora Innovation dropped for a fourth consecutive day on Thursday as investors continued to sell off positions over concerns that the US electric vehicle (EV) industry is now being dominated by Chinese EV makers.
Former Nissan executive Andy Palmer, often called the “Godfather of EVs,” recently told Business Insider that China is now the undisputed leader in EV manufacturing. The statement came as a stern warning to US and European automakers namely Tesla, GM, Volkswagen, and other EV makers which employ 4.3 million workers.
Investor sentiment was further dampened by news that sales of EV giant Tesla (NASDAQ: TSLA) fell for the first time in history, having only delivered 1.79 million vehicles during the year as compared with the 1.81 million in 2023, raising concerns about vehicle sales from other automakers such as GM.
Overall AUR ranks 10th on our list of the stocks that crashed yesterday. While we acknowledge the potential of AUR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AUR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.