D20 Drops on Google Give Backs

The Driverless Transportation (D20) Stock Index gave back almost half of last week’s gain, dropping 7.26 points, or 4.5 percent — its largest percentage loss ever — to end the week at 152.68. Losers outnumbered gainers 16 to four. Google (GOOG) led the decline, losing 7.3 percent of its value, or $49.37 per share, finishing at $623.56.

On better than expected second quarter earnings, General Motors (GM) was the bright spot this week, adding $.41, or 1.3 percent, to finish the week at $31.06. A few automotive industry analysts upgraded GM’s stock and helped to boost its share price.

The D20 continues to be more volatile than the Dow Jones Industrial Index and the S&P 500, especially in the past four months. This is driven by two factors. First, there are fewer stocks in the D20 Index (20) than both the Dow (30) and the S&P 500 (500). Second, some of the D20 Index constituent stocks are comparatively thinly traded compared with stocks in the Dow stocks or the S&P 500, and that adds to their volatility.

Visit the Driverless Transportation D20 Stock Index page to learn more about it and its component stocks.