TuSimple Goes Public, Stock for Sale
We have written about TuSimple a few times before. Now they are increasing the stakes of their plans for autonomous trucking by having an Initial Public Offering (IPO) and allowing people to take ownership in the company.
The Details
TuSimple had its IPO on April 15th, of which it raised about $1 billion in additional funding, listing the market capitalization of the company at $8.5 billion. At opening the shares sold at $40 apiece, implying there are over 212 million shares in total.
The shares maintained most of their value for the next day, ending at $39.95. The following Monday, however, the shares dropped a resounding 12.5%, coming down to 34.94 per share.
The company hopes to use its additional $1 billion in cash to hire more talent, and to work on removing the driver from the trucking equation entirely in level 4 automation.
TuSimple’s ultimate plan is to not only have these trucks available for purchase, but to also create retrofitting kits to make the autonomous trucking revolution happen more smoothly.
Conclusion
If you want to purchase some TuSimple stock, you can buy it on any platform that allows you to buy stock off of the NASDAQ exchange. As with previous companies going public, we are not responsible for any gains or losses that you incur from investing in this company.
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