How Will TuSimple React to Today's Headlines?

TSP investors were likely spooked this morning by Barrons's report: "Autonomous driving technology company TuSimple is cutting staff in a bid to save money, preserve cash, and refocus the company headed into more difficult economic times." For more coverage, read the full article here. On the back of this news, TuSimple sank -8.1% to a price of $1.3. Are the markets overreacting?

TuSimple Holdings Inc., an autonomous technology company, develops autonomous technology specifically designed for semi-trucks in the United States and internationally. The company belongs to the Industrials sector, which has an average price to earnings (P/E) ratio of 21.46 and an average price to book (P/B) ratio of 3.7. In contrast, TuSimple has a trailing 12 month P/E ratio of -0.6 and a P/B ratio of 0.3.

TuSimple has moved -96.1% over the last year compared to -17.9% for the S&P 500 -- a difference of -78.2%. TuSimple has a 52 week high of $39.89 and a 52 week low of $1.3. At today's price of $1.3 per share, TuSimple is -84.43% away from its target price of $8.38, and on average, analysts give the stock a rating of hold. 6.5% of the company's shares are linked to short positions, and 41.7% of the shares are owned by institutional investors.

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