TomTom Banged, D20 Tumbles

Closing down 4.6 percent, the Driverless Transportation (D20) Stock Index continued its 2016 decline, ending the week at 123.31, an all-time low. The Dow and the S&P 500 were also down as global markets sold off. The Dow lost 1.43 percent to finish at 15973.84, while the S&P 500 edged down 0.8 percent to close at 1864.78.

Demonstrating another broad-based decline, the D20 Index of the international driverless industry had 14 losers, five gainers, and one unchanged. Delphi (DLPH) was the big gainer, adding $1.81 to close at $61.24 a share, an increase of 3 percent. Delphi keeps hitting its quarterly revenue and earnings targets and analysts continue to increase its target stock price.

The D20’s big loser was TomTom (TOM2), dropping 1.8 euros to close at €7.13. Its stock price was down more than 20 percent last week as it projected only modest gains for 2016. There are also fears that the slumping global markets are quelling acquisition possibilities that have sent TomTom’s stock up since fall 2015. Further 20 percent price drops should make the acquisition of TomTom more likely.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.