Why Aurora Innovation, Inc. (AUR) Soared Last Week

We recently compiled a list of the Last Week’s Top 10 Stocks Post Double-Digit Gains. In this article, we are going to take a look at where Aurora Innovation, Inc. (NASDAQ:AUR) stands against the other stocks.

The stock market may have registered losses on Friday, but remained firmer on a week-on-week basis, with the bellwether indices continuing to track further developments from the growing trade tensions globally.

On a weekly basis, the Dow Jones was up 0.5 percent, the S&P 500 grew 1.47 percent, while the tech-heavy Nasdaq increased 2.57 percent.

Meanwhile, ten companies mirrored broader market optimism, booking as much as double-digit gains in just the last five trading days.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A closeup of a self-driving hardware unit inside the dashboard of a passenger vehicle.

Aurora Innovation, Inc. (NASDAQ:AUR)

Aurora Innovation, Inc. (NASDAQ:AUR) grew its share prices by a whopping 41.5 percent week-on-week, finishing Friday’s trading at $10.19 apiece versus the $7.2 price registered a week earlier.

The surge came as investors gobbled up shares in the company amid optimism over its upcoming launch of driverless trucks.

Aurora Innovation, Inc. (NASDAQ:AUR) earlier announced that it would officially deploy its first driverless trucks on public roads this year, “ushering in a future of safer, more efficient freight transportation and immense value creation.”

“We are on the cusp of our planned Commercial Launch, a pivotal step toward realizing our mission to deliver the benefits of self-driving technology safely, quickly, and broadly,” said Aurora Innovation, Inc. (NASDAQ:AUR) CEO and co-founder Chris Urmson.

Overall AUR ranks 4th on our list of last week’s top gainers. While we acknowledge the potential of AUR as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than AUR but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.