SPI - TuSimple falls after new short report from Grizzly Research

TuSimple (NASDAQ:TSP) dropped 1.6% after a new short report was released from Grizzly Research, seeing potential for 50% downside in the short to medium term for the autonomous truck company. Grizzly Research claims the company's founders have had previously failed business dealings and that its pre-order numbers appear to be overstated. Grizzly compares some if TuSimple's issues to Nikola (NASDAQ:NKLA), which was also the subject of a short report last year and who's founder and former CEO was recently charged with three counts of making false and misleading statements to investors. The new short report comes as TuSimple is still a favorite with Cathie Wood's ARK Invest. The firm bought 321,657 shares of TSP for the ARK Innovation ETF on Friday and 160,163 shares for the ARK Autonomous Technology & Robotics ETF. The ARK buying action followed TuSimple's earnings update, with which the company said it is deploying more capital to accelerate the hiring of

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TuSimple falls after new short report from Grizzly Research