Why Shares of TuSimple Holdings Crashed Today
It was a positive day for the markets with both the S 500 and Dow Jones Industrial Average ending 0.45% and 0.8% higher, respectively. Shares of TuSimple Holdings (NASDAQ: TSP) were stuck in reverse, however. After the market closed yesterday, the autonomous driving technology company updated investors on its operations in the United States. And investors expressed their disapproval of the news during today's trading session.
Recovering slightly from their earlier decline of 22.9%, shares of TuSimple Holdings logged a 20.4% decline for the day.
Inspiring little confidence that growth in the U.S. market lies on the road ahead, TuSimple Holdings announced yesterday that it's "evaluating strategic alternatives for its U.S. business." Among these alternatives, TuSimple included a sale of its U.S. business.
Source Fool.com
