An aura of successRecently listed self-driving truck company Aurora Innovation is already making a name for itself with a major partnership.
- Prices popped just under 10% on Wednesday. The firm is up 37% from its IPO close on November 4.
- It has partnered with Uber Freight to bring autonomous driving to Uber’s trucking division. With Uber as its biggest IPO backer, it’s not a huge surprise, but it’s still a step forward.
- Aurora caught investor attention on the back of rumors that it could be a possible partner for Apple’s (AAPL) car project, which sent prices up 51% on November 19.
Apple car rumors drive gainsCould Aurora be Apple’s new car partner? Rumors that the newly listed company might be working with the company on its highly secretive auto plans send the stock flying.
- The price jumped 51% on Friday as hyperactive retail traders pointed to the self-driving tech company as a likely partner for Apple’s 2025 EV project.
- Aurora went public two weeks ago through a SPAC that left it with a $13bn valuation, with Uber (UBER) as its biggest shareholder by miles.
- Self-driving stocks are joining in on the EV rally as retail traders try to get in on the hype that is sending the likes of Rivian (RIVN) and Lucid Motors (LCID) soaring.
Illustration by TradingView