The rumors circulating that deliveries of the Tesla Model 3 have significantly ramped up helped keep the Driverless Transportation Weekly Stock Index (D20) from suffering from a third consecutive weekly loss.
Hundreds of Tesla Model 3 vehicles have appeared at delivery centers, leading the market to believe that the automaker has conquered its production problems after a slow start, and is finally creating the vehicles at the rate they originally planned.
Tesla stock has responded appropriately, gaining 9.0 percent this week, while being the leading price-percentage gainer for the D20 in each of the last two weeks.
With 11 price losers and nine gainers, the D20 remained unchanged this week, closing at 252.14 and stopping a slide after two consecutive weeks of losses. For the third week in a row it lost ground to both the Dow, which gained 1.3 percent, and the S&P 500, which inched up 0.9 percent and closed at 2,675.81.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Upstream, an Israeli-based startup, has announced it has landed a $9-million Series A round of funding. The focus of the startup is on security for connected vehicles. It aims to protect vehicles that use services like On-Star with a cloud-based SaaS application versus an on-board security application.
Ouster, a LiDAR startup, announced it has raised $27 million in a Series A, to push its technology into mass production. Its first product, a 64-channel sensor called OS1, is available now and priced at $12,000. The company has focused on design for manufacturability and has monthly production targets of 1,000 in January 2018 and tens of thousands by the end of 2018.
Image: Tesla Model 3 / Credit: Tesla Motors