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14.05.2025 21:29:00
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Why Uber-Backed Aurora Innovation Stock Sank Today
Shares of Aurora Innovation (NASDAQ: AUR) tumbled 6.3% on Wednesday. The autonomous vehicle technology company's stock had been down as much as 17% earlier in the day.The self-driving technology developer is seeing its stock pressured after Uber announced it plans to issue exchangeable notes that could be converted into Aurora shares, sparking fears of dilution.Uber -- Aurora's largest shareholder -- yesterday announced its intention to offer $1 billion in exchangeable senior notes that can be exchanged for cash or used as "reference property," which Uber disclosed would initially consist of Aurora's Class A common stock. This allows Uber to raise cash now without outright selling its stake in Aurora.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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Aktien in diesem Artikel
| Aurora Innovation Inc Registered Shs -A- | 6,86 | -6,28% |
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| Innovation Inc. Registered Shs | 1 080,00 | 2,56% |
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| Uber | 79,65 | -1,18% |
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