Why Aurora Innovation Inc. (AUR) Surged On Thursday?

We recently published a list of 10 Stocks Jump, Defy Market Uncertainties on Thursday. In this article, we are going to take a look at where Aurora Innovation Inc. (NASDAQ:AUR) stands against other stocks that jumped, defying market uncertainties on Thursday.

The stock market extended losses on Thursday, with all the major indices ending in the red as investors continued to sell off positions to minimize risks from the ongoing trade tensions globally.

The tech-heavy Nasdaq fell the hardest, down 0.53 percent, followed by the Dow Jones at 0.37 percent, and the S&P 500 at 0.33 percent.

The broader market decline was mainly weighed down by shares in automakers following President Donald Trump’s announcement of a 25-percent tariff on all vehicles imported to the US.

Meanwhile, 10 companies defied a broader market pessimism amid fresh company developments that buoyed buying appetite. Two gold miners were particularly notable as investors sought safer assets amid the economic uncertainties.

In this article, we listed Thursday’s 10 best performers and detailed the reasons behind their gains.

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

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

Aurora Innovation Inc. (NASDAQ:AUR)

Aurora Innovation rallied by 4.78 percent on Thursday to finish at $7.46 apiece as investors took heart from a positive rating from a financial services company.

On Thursday, Oppenheimer assigned an “outperform” rating on AUR and gave the company a price target of $15, a 101-percent upside from the firm’s latest closing price.

The rating was based on AUR’s methodical and sustainable progress in the industry which it will face a limited competition, further supported by its expected launch of driverless trucks this year.

According to Oppenheimer, AUR’s strategy positions itself as a pioneer in the sector. Its focus on developing integrated solutions for autonomous trucking is expected to set it apart from other players in the market. The combination of advanced technology and strategic partnerships underlines AUR’s potential for growth.

Overall, AUR ranks 7th on our list of stocks that jumped, defying market uncertainties on Thursday. 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 time frame. If you are looking for an AI stock that is as promising as AUR but 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 30 Best Stocks to Buy Now According to Billionaires.

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