TuSimple Stock Doubled in 5 Days. Here's All You Need to Know.
Have you ever seen a stock double in just 5 days? TuSimple Holdings (NASDAQ: TSP) pulled off the feat this week, gaining a jaw-dropping 104.8% by 2 p.m. ET Friday, according to data provided by S&P Global Market Intelligence. A lot of drama unfolded over the past few days, and market participants are missing no chance to buy the once-promising autonomous driving stock while it's still a penny stock.
Two things fueled a buying frenzy in TuSimple stock this week: The stock dodged a delisting, and the company announced a restructuring plan.
Companies that don't comply with the rules of the stock exchanges face the threat of getting their stock delisted from the exchange. In TuSimple's case, the company still hasn't filed its financial report in Form 10-Q for the quarter that ended Sept. 30, 2022, nor has it filed its annual report in Form 10-K for the year that ended Dec. 31.
Source Fool.com
