Why TuSimple Holdings Stock Got Thrashed Today
To put it mildly, autonomous truck company TuSimple Holdings (NASDAQ: TSP) has had a bad time of it this year. That was compounded on Tuesday, when it published an earnings report that many investors found rather displeasing. As a result, TuSimple stock simply plunged on the day, falling by nearly 5%.
For its third quarter, TuSimple recorded revenue of just over $2.65 million, which was substantially more than the $1.79 million it posted in the same quarter of 2021. It attributed the improvement to the "increased utilization of our existing assets," combined with price increases.
The company was more consistent on the bottom line in recording a deep net loss; this amounted to $113 million, or $0.50 per share, not much narrower than the year-ago deficit of $115 million.
Source Fool.com
