Uber Dumps $471.6M Aurora Stake as Truck Targets Set
AUR sits 69% above its 52-week low of $3.6.
Summary
Uber sold 72 million Aurora shares for about $471.6 million at roughly $6.55 each, cutting its stake to about 186.5 million shares. This follows a $479.25 million sale in June, signaling continued reduction by the major shareholder. Aurora also set production targets: 20-25 driverless trucks by end of Q3 and 200 by year-end, with Roush capacity of about 1,000 trucks annually by October and Volvo up to 300 by 2027. The company is burning cash with a $270 million Q2 net loss and $384 million H1 operating cash burn, so the Uber sale adds pressure. Watch whether other insiders follow suit after director Michelangelo Volpi's $19.9 million sale on August 19.
At the time of this announcement, AUR was trading at $6.08 on NASDAQ in the Technology sector, with a market capitalization of approximately $12.3B. The 52-week trading range was $3.60 to $8.57. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.