© Reuters. Is Aurora Innovation a Good Autonomous Driving Stock to Buy?
Self-driving expertise firm Aurora Innovation (AUR) just lately made its inventory market debut. But is it sensible to purchase the inventory now though the corporate has not but generated any revenues? Let’s discover out.Autonomous expertise firm Aurora Innovation, Inc. (AUR) in Pittsburgh, Pa., just lately accomplished its enterprise mixture and commenced buying and selling on November 4, merging with particular function acquisition firm (SPAC) Reinvent Technology Partners Y, and elevating over $1.80 billion in gross proceeds. The inventory has gained 6.9% in value since its public debut.
Wall Street analysts anticipate the inventory to hit $14 within the close to time period, which signifies a potential 16.6% upside.
However, AUR is presently buying and selling 32.4% beneath its all-time excessive of $17.77, which it hit on November 19, 2021. Moreover, the whole automotive business is going through extreme semiconductor chip and labor shortages, which might hamper the corporate’s manufacturing plans. So, AUR’s near-term prospects look unsure.
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