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The first day of Tucson's future IPO in the United States: it fell nearly 20% in the session and ended flat

via:博客园     time:2021/4/16 11:44:34     readed:207

Author: Gao Xing

Tucson, an automatic driving technology company, was listed on NASDAQ today with an opening price of US $40.25, almost equal to the bidding price of US $40. After that, it rose nearly 3% at one time, but then fell back quickly and broke out, with a decline of nearly 20% at one time. Finally, it closed flat at the bidding price during the regular period.

Tucson, an automatic driving technology company, was listed on NASDAQ today with an opening price of US $40.25, almost equal to the bidding price of US $40. After that, Tucson went up, with an increase of over 3%. After that, Tucson quickly fell back and broke. The biggest intraday decline was close to 20%. However, Tucson rose significantly after that. In the regular period, Tucson's stock price finally leveled off. As of the closing of the regular session, Tucson futures reported US $40, with a total market value of US $8.491 billion.

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According to the financial data attached to the company's previous prospectus to the US SEC, the company lost $177.9 million in 2020, 109% more than the $84.8 million in 2019. In terms of revenue, the annual revenue in 2020 was US $1.843 million, up 160% from US $710 000 in 2019.

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According to public information, Tucson future was founded in September 2015, providing commercial L4 level automatic driving solutions based on computer vision, high-speed scenes and unmanned transportation solutions for container trucks in the port, which is different from other competitors' automatic driving solutions mainly for cars. The company also said in the prospectus that the company focuses on the huge and very important truck freight market. In addition to the existing market scale, with the development of e-commerce, transportation including yirida will further accelerate the demand for truck freight.

Tucson future and other companies dedicated to autonomous driving believe that long-distance trucks are particularly suitable for autonomous driving technology. Compared with the automatic driving system on local roads, vehicles, pedestrians and cyclists often need to cope with the unpredictable and stopping time. The freeway often travels along the freeway, which is easier to draw the route, and brings fewer challenges.

According to the previous article statistics of xuangubao, Tucson is now one of the world's largest driverless truck companies in terms of financing amount, and has become a leading enterprise in the automatic driving transportation industry. The company's 10% routes in the U.S. freight market account for nearly 80% of the freight volume, which also provides opportunities for the application of automatic driving technology.

Tucson's performance on the first day of the future is in sharp contrast to the hot situation of pre IPO pricing. The company's previous IPO price range was set at $35 to $39, offering nearly 34 million shares. According to reports, the hot subscription made the IPO price of the company reach $40 and the IPO Financing scale reach $1.35 billion.

It is worth noting that today is not only Tucson's big drop in the future, except Tesla, most new energy vehicle industry stocks are bucking the market to close down. Solid state battery manufacturer quantumscape, which was short sold by scorpion capital, closed down more than 12%, Nikola fell more than 9%, Lordstown fell nearly 9%, canoo fell more than 8%. In terms of three concept stocks, ideal auto fell more than 6%, Xiaopeng auto fell more than 4%, and Weilai auto fell more than 3%. For Tucson's sharp drop in the future, some market views believe that this is investors' doubt about the company's commitment to put its technology into road operation by 2024.

And the competition in the driverless industry is also heating up. Wal Mart said on Thursday that it is investing in cruise, the driverless division of general motors.

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