Aurora's Autonomous Trucking Model 'Hopeless,' Says Short Seller Kerrisdale Capital: 'We're Short $AUR'

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Aug 25

Investment firm Kerrisdale Capital has initiated a short position on Aurora Innovation Inc. AUR, arguing in a new report that the autonomous trucking company will “never become a viable commercial ...

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AUR, arguing in a new report that the autonomous trucking company will “never become a viable commercial ...</p>\n\n<a href=\"https://www.benzinga.com/markets/equities/25/08/47302418/auroras-autonomous-trucking-model-hopeless-says-short-seller-kerrisdale-capital-were-short-aur\">Source Link</a>\n\n</div>\n","source":"benzinga_recent_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Aurora's Autonomous Trucking Model 'Hopeless,' Says Short Seller Kerrisdale Capital: 'We're Short $AUR'</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAurora's Autonomous Trucking Model 'Hopeless,' Says Short Seller Kerrisdale Capital: 'We're Short $AUR'\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-08-25 16:13 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/equities/25/08/47302418/auroras-autonomous-trucking-model-hopeless-says-short-seller-kerrisdale-capital-were-short-aur><strong>Benzinga_recent_news</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Investment firm Kerrisdale Capital has initiated a short position on Aurora Innovation Inc. AUR, arguing in a new report that the autonomous trucking company will “never become a viable commercial ...</p>\n\n<a href=\"https://www.benzinga.com/markets/equities/25/08/47302418/auroras-autonomous-trucking-model-hopeless-says-short-seller-kerrisdale-capital-were-short-aur\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UPRO","symbol_name":"三倍做多标普500ETF","start_time":0,"source_url":"https://www.benzinga.com/markets/equities/25/08/47302418/auroras-autonomous-trucking-model-hopeless-says-short-seller-kerrisdale-capital-were-short-aur","article_id":"2562214361","we_media_id":null,"thumbnails":["https://cdn.benzinga.com/files/images/story/2025/08/25/Aurora-Innovation.jpeg?optimize=medium&dpr=2&auto=webp&width=240"],"rights":{"source":"benzinga_recent_news","url":"https://www.benzinga.com/markets/equities/25/08/47302418/auroras-autonomous-trucking-model-hopeless-says-short-seller-kerrisdale-capital-were-short-aur","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2562214361","pubTimestamp":1756109580,"columns":[],"sourceInfo":{"source_id":"benzinga_recent_news","name":"Benzinga"},"weMediaInfo":null,"summary":"Short seller Kerrisdale Capital shorts Aurora ($AUR), calling its autonomous trucking model \"hopeless\" and a \"dead end\" in a new report.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UPRO":"三倍做多标普500ETF","BK4007":"制药","BK4137":"综合支持服务","SH":"标普500反向ETF","OEF":"标普100指数ETF-iShares","BK4023":"应用软件","BK4581":"高盛持仓","OEX":"标普100",".SPX":"S&P 500 Index","BK4588":"碎股","SPXU":"三倍做空标普500ETF","BK4585":"ETF&股票定投概念","BK4534":"瑞士信贷持仓","SSO":"两倍做多标普500ETF","IVV":"标普500指数ETF","VOO":"Vanguard标普500ETF","SDS":"两倍做空标普500ETF","SPY":"标普500ETF","BK4557":"大麻股","ACB":"奥罗拉大麻公司","AUR":"Aurora Innovation","BK4504":"桥水持仓","BK4559":"巴菲特持仓","BK4550":"红杉资本持仓"},"translate_title":"卖空者Kerrisdale Capital表示，Aurora的自动卡车运输模式“无望”：“我们做空$AUR”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{".SPX":0.6,"ACB":1,"AUR":1,"ESmain":0.6,"MESmain":0.6,"IVV":0.6,"OEF":0.6,"OEX":0.6,"SDS":0.6,"SH":0.6,"SPXU":0.6,"SPY":0.9,"SSO":0.6,"UPRO":0.6,"VOO":0.89},"content_text":"Investment firm Kerrisdale Capital has initiated a short position on Aurora Innovation Inc. AUR, arguing in a new report that the autonomous trucking company will “never become a viable commercial operation.” The report, titled “A Dead End” and published last Tuesday, claims Aurora’s business model is fundamentally flawed and its profit potential is “puny.”\nCheck out AUR’s stock price over here.\nKerrisdale contends that Aurora’s technology is incapable of true point-to-point autonomous shipping. Instead, it is limited to a “hub-and-spoke” system where driverless trucks handle only the middle highway miles, while manned trucks are required for the expensive and time-consuming first and last legs of the journey, known as drayage.\n“Manned drayage is expensive and slow, and hub-and-spoke networks are inferior to direct manned shipping,” Kerrisdale stated in a thread on X, formerly known as Twitter. The firm argues that these logistical hurdles make autonomous trucking “slower, more expensive, and less reliable than point-to-point manned trucking for any freight moving under 1500 miles.”\nThe report sharply criticizes Aurora’s market projections, labeling its claimed Total Addressable Market (TAM) of 200 billion miles a “fantasy.” The report further states, “The economics of Aurora's autonomous business model are hopeless.”\nKerrisdale asserts the actual market for which Aurora’s model might be competitive is merely a tenth of that size. This, the firm calculates, creates a total market of about $10 billion—less than Aurora's current market capitalization of $13 billion.\nSee Also: Expert Accuses Fly-E Of ‘Pump-And-Dump’ Scheme, Warns Of ‘Severe Stock Collapse’ Amid Troubling Safety Record\nFurthermore, Kerrisdale alleges that Aurora has misled investors about significant hidden costs. The report cites conversations with Aurora’s own OEM partners, who allegedly expect the specialized autonomous trucks to be at least 50% more expensive than standard models.\nBenzinga has contacted Aurora Innovation for comment and will update this story with any response.\nIt also points to the “hefty real-world costs of building an autonomous trucking ecosystem,” arguing that the billions in required investment for terminals have not materialized because no one is willing to fund it.\nKerrisdale concludes that Aurora faces a small market, huge required investments, and a profit pool that must be shared with numerous partners. “Aurora investors should expect a decade of continuous dilution before arriving at a dead end,” the report warns.\nThe stock has fallen 5.49% over the last five sessions, but it ended 2.91% higher on Friday. It was down 1.31% year-to-date and 37.44% over the last year.\nBenzinga’s Edge Stock Rankings indicate that AUR maintains a stronger price trend in the short term but a weaker price trend over the medium and long terms. However, the stock scores poorly on value rankings. Additional performance details are available here.\nThe SPDR S&P 500 ETF Trust SPY and Invesco QQQ Trust ETF QQQ, which track the S&P 500 index and Nasdaq 100 index, respectively, rose on Friday. The SPY was up 1.54% at $645.31, while the QQQ also advanced 1.54% to $571.97, according to Benzinga Pro data.\nOn Monday, the futures of the S&P 500, Dow Jones, and Nasdaq 100 indices were trading lower.\nRead Next:\nDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.\nPhoto courtesy: Michael Vi / Shutterstock.com","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}