Why Aurora Innovation Inc. (AUR) Soared on Monday

We recently compiled a list of the 10 Firms Begin Trading Week With Impressive 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 kicked off the trading week on a positive note, with all major indices clocking in gains, as investors brushed off President Donald Trump’s latest imposition of hefty tariffs on steel and aluminum products from Canada and Mexico.

The Dow Jones rose 0.38 percent, the S&P 500 grew 0.67 percent, while the Nasdaq rallied 0.98 percent.

Ten companies mirrored a broader market optimism amid a series of positive catalysts sparking buying appetite.

In this article, we will take a look at which companies led the charge and explore the reasons behind their performance.

To come up with Monday’s best performers, 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. rose for a second day on Monday, adding 8.33 percent to its valuation to close at $7.80 apiece as investors repositioned their portfolios ahead of its earnings announcement on February 12.

For the fourth quarter of 2024, analysts project AUR to post between 11 to 12 cents loss per share, an improvement from the 13 cents loss per share registered in the same period a year earlier.

For full year 2024, analysts expect the company to register between 44 and 47 cents loss per share.

Meanwhile, investors will be looking out for any cues on the company’s much-awaited Aurora Driver, which it plans to launch in Texas in April 2025. The Aurora Driver, enabled by Verifiable AI, quickly adapts to new operating domains while being validated through Aurora’s Safety Case. It is equipped with a powerful computer and sensors, including lidar, radar, and cameras, enabling it to safely operate at highway speeds.

Overall AUR ranks 10th on our list of Monday’s best performers. While we acknowledge the potential of AUR as an investment, our conviction lies in the belief that some 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 as promising as 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.