Stock Track | Aurora Innovation Shares Plunge on Wider-Than-Expected Q3 Loss

Stock Track

2024/10/31

Shares of self-driving vehicle company Aurora Innovation Inc. plummeted over 15% in pre-market trading on Wednesday after the company reported wider-than-expected losses for the third quarter.

Aurora posted a quarterly loss of $0.13 per share, missing analysts' consensus estimate of a $0.11 loss per share. The company's disappointing results highlight ongoing struggles to control costs and achieve profitability amid fierce competition in the autonomous driving space.

The steep stock sell-off underscores investors' concerns over Aurora's path to profitability. With the pre-market plunge, shares are currently trading around $2.20, well below their 52-week high of $7.90 reached in November 2023.

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