10 Firms Drop on Bearish Statements, Disappointing Earnings

7. Aurora Innovation Inc. (AUR)

Autonomous driving company Aurora Innovation (AUR) dropped for a third day on Monday as investors continued to sell off positions while waiting on the sidelines after the company sued the US Department of Transportation for arbitrarily rejecting the industry’s idea for an alternative solution.

The complaint was filed in the DC Circuit Court of Appeals on Friday.

According to Aurora (AUR), the department’s decision “stifles safety innovation and would impede the development of the autonomous trucking industry for no valid or lawful reason.”

The case stemmed from an application filed by Aurora and fellow self-driving vehicle manufacturer Waymo, in January 2023 seeking an exemption to existing rules that require truck drivers to exit their vehicle and place reflective triangles or flares on the roadway when stopped on the shoulder of a highway.

The companies sought permission for driverless trucks to instead use ultra-bright, cab-mounted warning beacons similar to those used by highway construction vehicles. On December 26, the department rejected the request.