Thanks to its phenomenal growth over that last two-plus years, the initial 5-percent stake in the Driverless Transportation Weekly Stock Index (D20) by NVIDIA (NVDA) has grown to more than 25 percent!
The D20 was reset as a $1,000 investment in 20 stocks in August of 2015. So when NVIDIA drops a D20-leading 8.9 percent in price, like it did last week, the D20 takes a pounding.
The D20 lost 3.5 percent of its value, dropping below 260 to 256.64. NVIDA wasn’t the only big loser, though — BYD (BYDDY) dropped 7.5 percent to close at $17.64, and Renesas Electronics (TYO:6723) shed 6.7 percent to end the week at ¥1339 per share.
Eleven price losers contributed to the D20 loss. The D20 was outperformed by the Dow, which gained 2.9 percent, and the S&P 500, which added 1.5 percent to its value.
There was some bright news for driverless technology in general this past week. Waymo (GOOG) announced that its driverless vehicles have driven over 4 million miles autonomously on public roads.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Russian software giant Yandex, which has a driverless technology project, announced that it recently test drove its driverless taxi for 300km in the snow. Weather in general, but snow in particular, presents real problems for driverless vehicles. Obscured road markings and slippery conditions can play havoc with driverless algorithms.