Nineteen price gainers, led largely by Tesla Motors, and only one loser helped the Driverless Transportation Weekly Stock Index (D20) to a seventh consecutive weekly gain.
The D20 topped the Dow and the S&P again this week by gaining 2.2 percent and closing at 214.80. The Dow inched up 0.6 percent while the S&P 500 index rose by 1 percent to close at 2439.07.
In the last seven weeks, the D20 has added 14.6 percent to its value while the Dow has gained only 2.7 percent and the S&P 500 only 3.5 percent.
Although Tesla (TSLA) was the leading D20 percentage price gainer at 4.5 percent, the gains were well distributed as six other stocks were also up by more than 3 percent for the week. Tesla’s Elon Musk made headlines this week by quitting Trump’s Economic Council after the U.S. president made the decision to leave the Paris Climate Agreement.
The sole D20 price loser this week was Mobileye (MBLY). It announced first quarter 2017 earnings on June 1 that seemed to spawn some profit-taking. Mobileye lost only $0.02 a share to close the week down 0.03 percent at $61.78.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Embattled Uber has fired its head of autonomous driving, Anthony Levandowski. Levandowski helped embroil Uber and Waymo, Google’s driverless unit, in a lawsuit as he was accused of taking thousands of documents as he left Waymo to form Otto, which was later purchased by Uber for more than $700 million.
Uber’s fortunes need a lift, as its troubles continue. It announced a $708 million loss for the first quarter of 2017 and the resignation of its head of finance, Gautam Gupta, to join another Silicon Valley start-up.