Insider Trading Report: TuSimple Holdings (TSP)

Karen Francis, a director at TuSimple Holdings (TSP), recently bought 7,142 shares. The buy increased her stake by nearly 9 percent, and came to a total cost of just over $285,000.

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  • The company CFO made a 2,500 share buy on the same day. A major owner sold 6.7 million shares as well, while also retaining over 24.6 million shares. These mark the first insider transactions since the company went public earlier this month.

    Overall, insiders own nearly 17 percent of company shares.

    TuSimple is developing autonomous technology for semitrucks capable of meeting L4 autonomous semi-truck standards in the North American market. As a recently-public startup company, the firm is not yet profitable, and shares haven’t strayed too far from their IPO price yet.

    Action to take: The company’s valuation looks low considering the potential for developing autonomous trucking fleets. Investors may like shares, provided they’re willing to see how this industry develops in time.

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  • The company has options trading on it already as well. Given the limited operating history, the options appear priced for a move higher, given the somewhat high premium in the call options. For traders, the November $45 call is the highest strike price and furthest out. Going for about $7.50, it would be the most leveraged for a rally in shares.

     

    Disclosure: The author of this article has no positions in the stock mentioned here, and does not intend to make a trade on this company after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.