Aurora Innovation (AUR) Hits 52-Week High on Self-Driving Truck Commercial Launch

Aurora Innovation Inc. (NASDAQ:AUR) is one of the 10 Stocks With Easy Double-Digit Gains.

Aurora Innovation climbed to a new 52-week high on Wednesday, as investors welcomed the commercial launch of a self-driving truck between one of its partners and a leading global transport and logistics company.

At intra-day trading, the stock surged to a record high of $8.56 before paring gains to end the session just up by 16.34 percent at $8.40 apiece.

The Volvo VNL Autonomous truck, integrated with the Aurora Driver. Photo from Aurora Innovation website

In a statement, Aurora Innovation Inc. (NASDAQ:AUR) said that its partner, Volvo Autonomous Solutions (VAS), officially launched alongside DSV, long-range self-driving freight operations through the Volvo VNL, which was built on Aurora’s Driver technology.

Aurora Innovation Inc. (NASDAQ:AUR) said that the trucks will transport services between Dallas and Houston, Texas, with an aim to expand to other areas over time.

During the initial phase, a safety driver will remain present in the vehicle in line with Volvo’s current operational mode.

For Aurora Innovation Inc. (NASDAQ:AUR)—whose stock soared to a record high of $8.56 at intra-day trading before trimming gains to end the session just up by 16.34 percent at $8.40 apiece—the commercial launch strengthened adoption for autonomous driving and the growing optimism for its self-driving technology.

In other news, Aurora posted a 7 percent higher net loss in the first quarter of the year, at $223 million versus the $208 million in the same period last year. It also incurred a $1 million revenue during the period, versus none in the comparable period.

READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. 

Disclosure: None. Follow Insider Monkey on Google News.