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.
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.
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.
Top Trucking Articles of the Past Year
- Biden’s First 100 Days and How it May Affect Trucking
- FMCSA Considers 5/5 Sleeper Berth Split
- Top 10 Semi-Truck Financing Frequently Asked Questions
- What Are The Different Types of Dump Trucks
- DOT Secretary Elaine Chao Announces Resignation
ABOUT TOPMARK FUNDING
TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
We’re not here for the short-term, we’re on the long-haul with you!
Learn more about Trailer Financing.
Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.