Visteon Leads 14 Losers to Broad-Based Retreat for D20, While Up-and-Comer Careem Raises Half a Billion

After eight straight weeks of gains, 14 losers, led largely by Visteon Corporation, drove the Driverless Transportation Weekly Stock Index (D20) to take a small step back, as both the Dow Jones Industrial Average and the S&P 500 Index eked out small advances.

The largest loser was Visteon Corporation (VC), which lost 8.49 percent to land at 92.37.

In its eight-week run, the D20 climbed 15.6 percent. During that same period the Dow rose 4.0 percent and the S&P 500 advanced 4.4 percent.

With 14 stock price losers and only six gainers, the D20’s 0.6 percent lose was almost inevitable.  It ended the week down 1.33 points at 213.82.

The bright spot for the D20 was Chinese electric vehicle maker BYD (BYDDY), who announced large bus orders in the UK and Australia. BYD gained $0.74 to close up 6.2 percent at $12.64 on the U.S. OTC market.

BYD has been on a hot streak of its own.  It has had six consecutive weeks of an increasing stock price, during which time it has added 13.2 percent to its value.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.

 

Up-and-Comers:

Careem, a ride service competitor of Uber’s in the Middle East, North Africa and South Asia, just closed a $500 million deal in a Series E round of financing.

This pushes the valuation of the firm, post financing, to close to $1.2 billion. Careem’s focus on a region that is well below the European and North American levels in established public transportation options and car ownership is novel. Daimler (DDAIF) was an investor in this last round with Careem as it adds to its ride service portfolio of Hailo in the UK, Taxibeat in Greece and MyTaxi in Germany.

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