A four-percent stock price jump by Tesla Motors led the Driverless Transportation Weekly Stock Index’s (D20) this week.
Tesla’s (TLSA) reveal of the new Tesla Semi electric big-rig dominated industry headlines this week, helping the company’s stock jump from $302.99 to $315.05 per share. In a big surprise, Tesla CEO Elon Musk also revealed a new Roadster during the same event, which no one was expecting.
Tesla’s real financial fate still hangs on whether or not they can untangle the production problems they have on the Model 3, their reasonably-priced, mass-market electric vehicle. Their target production rate for the Model 3 is 20,000 cars a month by the end of December. Tesla only produced 260 Model 3s in the last quarter.
Unfortunately, the rest of the D20 didn’t fare so well this week. Eleven price losers dominated the Index and caused it to lose 0.7 percent, closing the week at 259.27.
The Dow and S&P 500 both outperformed the D20 this week. The Dow only dropped 0.3 percent, while the S&P 500 dipped just 0.1 percent to close at 2578.85.
Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.
Optimus Ride, a Boston-based startup, announced that it raised $18 million in series A funding. Reps from the MIT spin-off company said they will utilize the additional capital to increase their vehicle fleet and make strategic hires. Optimus Ride has received approval from the Massachusetts Department of Transportation to test highly automated vehicles in the commonwealth.