Increased Demand for Volvo AB Products Leads D20 to Second Consecutive Weekly Gain
Seventeen price gainers, led largely by Volvo AB, helped the Driverless Transportation Weekly Stock Index (D20) to a second consecutive week with more than a 3-percentage-point gain.
The D20 outgained both the Dow, which added 1.9 percent, and the S&P 500, which climbed 1.5 percent to close the week at 2384.20.
Since February of 2016, the D20 is up 60 percent, while the Dow is up only 31 percent, and the S&P 500 has gained 28 percent.
Volvo AB (STO:VOLV-B), the Swedish truck and heavy equipment maker, led the D20 with an 12-percent price gain. Volvo AB saw its construction equipment orders climb by a third in the first quarter, mostly driven by increased orders for its mining equipment.
Other significant movers this week were Alphabet (GOOG), which jumped 7.4 percent; Valeo; SA’s ADR (VLEEY), which climbed 7.2 percent; and Visteon (VC), which gained 6.1 percent to climb over the $100-per-share mark, closing the week at $102.95.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Up-and-Comers:
Zoox, a driverless car start-up headquartered in Menlo Park, California, has hired the former head of the U.S. National Highway Traffic Safety Administration (NHTSA), Mark Rosekind. He will focus on safety innovation for Zoox. Zoox, which has raised $290 million in venture funding, remains in stealth mode and has not shared detailed plans about products publicly.