For a young public company known for transparency, TuSimple Holdings’ sudden replacement of Cheng Lu as CEO with co-founder Xiaodi Hou showed that unexpected moves rattle investors. And shaken investors sell stock.
A lot of stock.
TuSimple is trading near its all-time low. For the week, it was down 32.65%, with most of the damage on Thursday, the day of the announcement..
The timing and immediate execution appeared to be a PR blunder with volatile markets already spooked by inflation fears and...