Driverless Cars Stock Index Trails Down

 

 

 

The first full week of March proved to be the second consecutive down week for the Driverless Transportation D20 Stock Index as it lost 0.38 or 0.27 percent of its value to close at 141.65.  The D20 continues to track the Dow Jones, which declined by 1.5 percent.  D20 losers outnumbered gainers 12 to eight.

The largest percentage D20 gainer of the week was China’s BYD Company (BYDDY) with its 9.8 percent rise to end the week at $9.52. This is BYD’s fifth consecutive weekly advance.   The largest percentage loser of the week was Volvo AB (VOLVY) where a 5.2 percent loss knocked $0.63 off Volvo’s value to finish the week at $11.45.

On the strength of analyst upgrades and its announcement to enter the wireless market, Google (GOOG) continues to advance, adding $9.28 or 1.7 percent to end the week at $567.68, a five month high.  Tesla (TSLA) countered Google’s advance by losing $9.46 or 4.7 percent to finish at $193.88, dipping below $200 a share for only the second time since the D20 Index was launched last summer.

Tesla and Google continue to dominate the D20 Index and make up 53.8 percent of its composition based on their stock prices.  That’s why a $10 gain by Google, while only a 1.8 percent change in its stock price, moves the index the same amount as a $10 gain by Ford (F).   In contrast, a $10 gain by Ford is a 62.8 percent increase in its stock price.

On March 18, the Dow will add the world’s most valuable company, Apple Inc. (APPL), to its ranks and drop AT&T (T). If the rumors are true about Apple developing a car, Driverless Transportation may have to add Apple to the D20 Index, making it the first constituent stock with the Dow Jones Industrials.