Aurora down after Kerrisdale Capital discloses short position

Shares of Aurora Innovation AUR.O down 5.9% at $6.06

Kerrisdale Capital discloses short position in the self-driving truck technology firm

Reuters could not verify the claims made in the report and the company did not immediately respond to a request for comment

Aurora's reliance on a hub-and-spoke model for autonomous trucking is economically inferior to direct manned trucking, the short seller says

Kerrisdale estimates the real opportunity is closer to 20 bln miles, less than Aurora's claim of an addressable market of 200 bln miles

Autonomous trucks will be significantly more expensive than Aurora claims, with manufacturing partners expecting at least a 50% cost increase - Kerrisdale

Up to last close, AUR up ~2% this year