This could make you $100,000 or more over the next 12 months…

On July 27 at 7 p.m. ET, Eric Fry and Louis Navellier will reveal a new Supercycle that’s about to grip the markets and how you can leverage this event to potentially make $100,000 or more.

Tue, July 27 at 7:00PM ET

TSP Stock: 7 Things to Know as Self-Driving Truck Startup TuSimple Starts Trading

Today, shares of self-driving truck startup TuSimple (NASDAQ:TSP) began trading. At the time of writing, investors in TSP stock have seen declines of around 5% from the stock’s opening price of $40 per share.

a red 18-wheeler truck driving down the highway

Source: Vitpho/

TuSimple is a company focused on developing the world’s most advanced self-driving technologies for long-haul and heavy-duty trucking. The company utilizes the Navistar and TRATON OEMs in its autonomous driving system, hoping to capitalize on a key pain-point for trucking companies today.

Currently, truck drivers are in high demand, and companies are experiencing higher costs in attracting and retaining drivers. By shifting to autonomous self-driving technologies, TuSimple is betting on regulatory shifts that would fundamentally change the long-haul trucking industry. Such a shift would mean more consistent (and higher) operating markings for trucking companies. Thus, it’s a win-win, as long as regulators approve these systems.

Accordingly, this stock is one which is likely to see long-term investor interest. Here are a few things to know about the company’s recent IPO.

7 Things to Know About TSP Stock As It Begins Trading

  • TuSimple raised more than $1 billion via its IPO, pricing shares above its estimated range.
  • Morgan Stanley (NYSE:MS), Citigroup (NYSE:C) and JPMorgan Chase (NYSE:JPM) were all involved in the underwriting process.
  • Accordingly, today’s drop of more than 5% appears to have brought these shares in line with what was previously expected.
  • It also follows a broader struggle with EV stocks today. Top names like Nio (NYSE:NIO) and Churchill Capital IV (NYSE:CCIV) are down.
  • The company reportedly has 5,700 reservations for its self-driving trucks.
  • Accordingly, it’s a pre-revenue company targeting a $4 trillion global freight market.
  • TuSimple does have competition on the horizon. Both Tesla (NASDAQ:TSLA) and Xpeng (NYSE:XPEV) are developing their own long-haul truck options.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media,

©2021 InvestorPlace Media, LLC