Led by NVIDIA (NVDA), the Driverless Transportation’s Weekly Stock Index (D20) suffered its largest weekly loss since February of 2016 last week.
Sixteen price losers forced the D20 to drop 3.5 percent, or 6.79 points, and close the week at 185.91. The D20 lost ground against the Dow, which remained virtually unchanged, and the S&P 500, which slipped 0.3 percent to close at 2355.54.
NVIDIA’s sell-off continues as its stock lost $8.60 a share to close at $100.33. This 7.9-percent drop was sparked by a downgrade to its stock by an analyst at Pacific Crest, but was really fueled by the market’s overall perception that NVIDIA’s stock price is overvalued.
Tesla (TSLA) was one of the few bright spots for the D20 this week. By meeting its expected number of vehicle deliveries in the first quarter of 2017, Tesla’s stock sky-rocketed 8.7 percent to close at $302.54 a share. With that share price, Tesla’s market cap is larger than General Motor’s (GM), making Tesla the most valuable U.S. automaker.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Led by D20 constituent Delphi (DLPH), Otonomo raised $25 million in series B funding to continue its mission to assist the big automobile manufacturers in monetizing the data they are receiving from the connected vehicles they produce.
Otonomo’s platform is cloud-based and organizes the vehicle data so that consumers of the data–think insurance companies, vehicle parts manufacturers, and dealerships–can access it.