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TuSimple is leaving the Nasdaq as it exits the US
Chinese autonomous trucking startup TuSimple will delist itself from the Nasdaq stock exchange as it moves forward with its plan to fully exit the U.S.
The company announced Wednesday that it will file what’s known as a Form 25 on (or around) January 29 to deregister its stock, and expects the shares to trade until about February 7. The committee also said that “[s]ince TuSimple’s initial public offering in 2021, there has been a significant shift in capital markets, due in part to rising interest rates and quantitative tightening, that has changed investor sentiment for pre-commercialization technology growth companies” — a statement that’s as true as it is dry. Chen then helped push out fellow TuSimple co-founder Xiaodi Hou in late 2022 while the startup was under investigation.
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