NASDAQ:TSP

TuSimple Announces Intention to Delist from Nasdaq

Retrieved on: 
Wednesday, January 17, 2024
Agreement, TuSimple, SAN, Committee, Letter, Common stock, Executive, Security (finance)

SAN DIEGO, Jan. 17, 2024 /PRNewswire/ -- TuSimple (Nasdaq: TSP) (the "Company") today announced its decision to voluntarily delist the Company's common stock from The Nasdaq Stock Market LLC ("Nasdaq") and to terminate the registration of its common stock with the Securities and Exchange Commission (the "SEC").

Key Points: 
  • SAN DIEGO, Jan. 17, 2024 /PRNewswire/ -- TuSimple (Nasdaq: TSP) (the "Company") today announced its decision to voluntarily delist the Company's common stock from The Nasdaq Stock Market LLC ("Nasdaq") and to terminate the registration of its common stock with the Securities and Exchange Commission (the "SEC").
  • The decision to delist and deregister was made by a Special Committee (the "Special Committee") of the Board of Directors (the "Board") of the Company, comprised solely of independent directors.
  • In making its determination, the Special Committee concluded that delisting and deregistering is in the best interests of the Company and its stockholders.
  • Accordingly, the Special Committee determined that the benefits of remaining a publicly traded company no longer justify the costs.

TuSimple ALERT: Bragar Eagel & Squire, P.C. is Investigating TuSimple Holdings, Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm

Retrieved on: 
Wednesday, January 10, 2024
The Wall Street Journal, TuSimple, Culture, Accident, P.C, Travel, Journal, Safety, IPO, Telephone, News, Complaint, Cryptocurrency

Our investigation concerns whether the board of directors of TuSimple have breached their fiduciary duties to the company.

Key Points: 
  • Our investigation concerns whether the board of directors of TuSimple have breached their fiduciary duties to the company.
  • TuSimple is the subject of a Wall Street Journal article published on August 1, 2022.
  • The article alleges that one of the Company’s autonomously driven trucks left its lane of travel without warning before striking a cement barricade.
  • The Company rushed testing of its autonomous driving systems to bear its competitors to the market.

TuSimple Announces Third Quarter 2023 Results

Retrieved on: 
Thursday, November 9, 2023
SBC, SG, Workforce, GAAP, AEBITDA, Environment, TuSimple, Q3, Marketing, Investment, YTD, Pharmaceutical industry

SAN DIEGO, Nov. 9, 2023 /PRNewswire/ -- TuSimple (Nasdaq: TSP) today reported results for the third quarter of 2023. TuSimple's quarterly financial results are available in the company's quarterly report on Form 10-Q filed with the Securities and Exchange Commission and on the company's investor relations website. For additional information and to view the company's latest investor presentation, please visit ir.tusimple.com.

Key Points: 
  • For the nine months ended September 30, 2023 ("YTD Q3 2023"), gross loss was $0.5 million, down 94% versus the nine months ended September 30, 2022 ("YTD Q3 2022").
  • During the fourth quarter of 2022 and first half of 2023 ("H1 2023"), TuSimple announced multiple restructuring plans to improve its cost structure, which included a reduction of the company's global workforce and asset impairments.
  • While a majority of the plans' aggregate restructuring charges were recorded in the fourth quarter 2022, a significant portion of these restructuring plans were carried out in H1 2023.
  • Q3 2023 R&D expense was $44.3 million, down 24% sequentially, primarily attributable to decreased employee compensation costs and R&D fleet operating costs as a result of the H1 2023 restructuring plans and restructuring charges recorded in Q2 2023.

INVESTOR ALERT: Abbott Cooper PLLC Announces Investigation into TuSimple Holdings, Inc.; Urges TuSimple Stockholders to Contact Abbott Cooper Regarding Their Legal Rights

Retrieved on: 
Wednesday, November 8, 2023
TuSimple

STAMFORD, Conn., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Abbott Cooper PLLC is investigating TuSimple Holdings, Inc. (Nasdaq: TSP) (“TuSimple” or the “Company”) on behalf of the Company’s investors.

Key Points: 
  • STAMFORD, Conn., Nov. 08, 2023 (GLOBE NEWSWIRE) -- Abbott Cooper PLLC is investigating TuSimple Holdings, Inc. (Nasdaq: TSP) (“TuSimple” or the “Company”) on behalf of the Company’s investors.
  • TuSimple stockholders are encouraged to contact Abbott Cooper PLLC by calling (475) 333-0674, emailing [email protected] or visiting our website at www.abbottlawyer.com for additional information about this investigation as well as their legal rights and options.
  • Abbott Cooper PLLC is dedicated to shareholders’ rights and empowering shareholders through strategic counsel and legal advocacy.
  • For additional information about Abbott Cooper PLLC, please visit www.abbottlawyer.com .

TuSimple Announces First Half 2023 Results

Retrieved on: 
Wednesday, September 27, 2023
Workforce, AEBITDA, GAAP, Investment, SG, SBC, Rare-earth element, Life insurance, Beauty salon, TuSimple, SG&A

SAN DIEGO, Sept. 27, 2023 /PRNewswire/ -- TuSimple (Nasdaq: TSP) today reported results for the first and second quarters of 2023. TuSimple's quarterly financial results are available in the company's quarterly reports on Form 10-Q filed with the Securities and Exchange Commission and on the company's investor relations website. For additional information and to view the company's latest investor presentation, please visit ir.tusimple.com.

Key Points: 
  • For the six months ended June 30, 2023 ("H1 2023"), gross loss was $0.5 million, down 90% versus the first half of 2022 ("H1 2022").
  • In December 2022 and May 2023, TuSimple announced restructuring plans to improve its cost structure, which included a reduction of the company's global workforce and asset impairments.
  • H1 2023 SG&A expense was $57.4 million, up 6% versus H1 2022, and Q2 2023 SG&A expense was $28.7 million, flat sequentially.
  • TuSimple held $835.7 million of cash, cash equivalents, and short-term investments as of June 30, 2023.

TuSimple to Explore Strategic Alternatives for its U.S.-based Operations

Retrieved on: 
Wednesday, June 28, 2023
Level 4, Perception, TuSimple, Perella Weinberg Partners, SAN, Sale, Online shopping

SAN DIEGO, June 28, 2023 /PRNewswire/ -- TuSimple (Nasdaq:TSP), a global autonomous driving technology company, announced today that it is evaluating strategic alternatives for its U.S. business with a goal to maximize shareholder value.

Key Points: 
  • SAN DIEGO, June 28, 2023 /PRNewswire/ -- TuSimple (Nasdaq:TSP), a global autonomous driving technology company, announced today that it is evaluating strategic alternatives for its U.S. business with a goal to maximize shareholder value.
  • Coupled with its testing operations, hardware integration experience, and proprietary autonomous domain controller, TuSimple aims to be the first to commercially launch continuous, cost-competitive autonomous freight operations.
  • No assurances can be given that TuSimple's exploration of strategic alternatives will result in any change in strategy or a transaction.
  • The decision to explore strategic alternatives for the U.S. business was guided by the company's review of multiple business factors and commercial opportunities.

TuSimple Among First to Receive Fully Driverless Test License in China

Retrieved on: 
Friday, June 9, 2023
TuSimple, Donghai Bridge, Safety, Pudong, Innovation, Level 4, Yangshan, SAE, Legislation, Road, Rail transport

TuSimple China has accumulated test mileage of over 600,000 kilometers and achieved zero incidents and road violations.

Key Points: 
  • TuSimple China has accumulated test mileage of over 600,000 kilometers and achieved zero incidents and road violations.
  • SHANGHAI, June 8, 2023 /PRNewswire/ -- TuSimple Holdings, Inc. ("TuSimple") (Nasdaq: TSP), a global autonomous driving technology company, today announced it has been awarded a fully driverless test license by the Pudong New Area of Shanghai in China.
  • This fully driverless license in China will enable TuSimple to build upon its achievement in the United States where it completed the world's first fully autonomous semi-truck run on public roads without any human intervention.
  • "We are very honored to receive the first batch of Level 4 fully driverless autonomous driving test licenses in China," said Cheng Lu, President and CEO of TuSimple.

TuSimple's autonomous trucks commence testing on expressway in Japan

Retrieved on: 
Tuesday, June 6, 2023
TuSimple, Ministry of Internal Affairs and Communications, Shin-Tōmei Expressway, Communication, Internal affairs, Ageing, Research, History, Level 4, Ministry, SAE, City, AI, OEM, Tōmei Expressway, Safety, Road, Transport

In 2021, TuSimple Japan, a subsidiary of TuSimple, completed a series of safety validation and testing work of its autonomous driving system with a local Japanese OEM's truck.

Key Points: 
  • In 2021, TuSimple Japan, a subsidiary of TuSimple, completed a series of safety validation and testing work of its autonomous driving system with a local Japanese OEM's truck.
  • In January 2023, TuSimple Japan commenced regular testing on the Tomei Expressway.
  • We are dedicated to providing the most reliable, safe and efficient autonomous truck solutions for the long-haul transportation industry."
  • As of March 2023, TuSimple trucks have recorded more than 10 million cumulative miles through testing, research, and freight delivery.

Thinking about buying stock in Palantir Technologies, IONQ, Navitas, Upstart, or Tusimple?

Retrieved on: 
Wednesday, May 24, 2023
Main Street, Wall Street, Multimedia, Retail

Each stock is evaluated based on short-term technical, long-term technical and fundamental factors.

Key Points: 
  • Each stock is evaluated based on short-term technical, long-term technical and fundamental factors.
  • Each of those scores is then combined into an overall score that determines a stock's overall suitability for investment.
  • InvestorsObserver provides patented technology to some of the biggest names on Wall Street and creates world-class investing tools for the self-directed investor on Main Street.
  • We have a wide range of tools to help investors make smarter decisions when investing in stocks or options.

TuSimple Holdings Announces Restructuring of U.S. Operations and Provides Update on Asia Pacific Business

Retrieved on: 
Thursday, May 18, 2023
Workforce, TuSimple, Auto Shanghai, Original equipment manufacturer, Overalls, WARN, Research, TDC, Level 4, SAN, Ecosystem, OEM, Transport, Airline, Renewable energy

The company also announced it is no longer seeking strategic alternatives for its Asia Pacific subsidiaries.

Key Points: 
  • The company also announced it is no longer seeking strategic alternatives for its Asia Pacific subsidiaries.
  • In light of current market conditions, today TuSimple announced it is reorganizing its U.S. operations and better aligning staffing levels with the company's goals.
  • Including the restructuring in December 2022, total annual cash compensation savings are expected to be in excess of $120 million.
  • The company intends to continue to develop Level 4 commercial autonomous freight opportunities in multiple Asia Pacific markets.