Shares of Aurora Innovation (AUR) surged 13.28% on November 1, 2024, following the revelation that ARK Investment Management, led by renowned investor Catherine Wood, had initiated a new position in the company during the third quarter of 2024.

According to ARK's latest 13F filing, the investment firm acquired 2,100,209 shares of Aurora Innovation, valued at $12.43 million, representing 0.11% of their overall portfolio. This investment reflects ARK's belief in the potential of disruptive technologies, including self-driving vehicles and autonomous driving solutions, which align with Aurora Innovation's core business.

While the news article does not provide specific reasons for the stock's price surge, the investment by ARK, known for its focus on innovative and transformative companies, may have boosted investor confidence in Aurora Innovation's prospects. The company's involvement in the rapidly growing autonomous driving sector could be viewed as a promising opportunity by investors, especially with the backing of a prominent investment firm like ARK.