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TuSimple Holdings Inc.

Company NameTuSimple Holdings Inc.
Stock SymbolTSP

On August 1, 2022, The Wall Street Journal published an article alleging, among other things, that, an accident in which one of TuSimple’s autonomously driven truck suddenly veered left, cutting across a highway and slamming into a cement barricade “underscores concerns that the autonomous-trucking company is risking safety on public roads in a rush to deliver driverless trucks to market.” While TuSimple reported that the accident was due to a person in the cab not properly rebooting the autonomous driving system before engaging it, researchers argue that “it was the autonomous-driving system that turned the wheel and that blaming the entire accident on human error is misleading.” The Federal Motor Carrier Safety Administration has launched a “safety compliance investigation” into TuSimple.

On this news, TuSimple’s stock fell as much as 10.8% during intraday trading on August 1, 2022, thereby injuring investors.

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