Luminar has production program partnerships with OEMs including Volvo, Daimler Trucks, and China’s largest auto company SAIC besides holding another 14 opportunities at advanced stages. Automakers are pivoting at a faster than expected pace to electric vehicles, and self-driving technology, which is increasingly viewed as a default feature in premium EVs, should stand to gain traction. Secondly, a couple of other lidar stocks went public earlier this year, including Ouster and Innoviz, and this also likely reduced demand for Luminar stock, which was previously one of the few options available for investors looking to play the self-driving market.Īlthough valuing Luminar stock is somewhat tricky, given that it hasn’t started commercial operations yet, we think the risk-to-reward prospects are looking better following the big sell-off. Firstly, investors have been rotating away from high-growth, futuristic stocks, such as Luminar, into cyclical stocks to play the post-Covid re-opening. The decline is driven by a couple of factors. Luminar, a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by over 40% year-to-date and currently trades at levels of about $18 per share. Luminar also acquired OptoGration, a company that designs and manufactures crucial InGaAs photodetector chips that go into the sensors. The company is also making progress with its production plans for its low-cost, mass-market Iris sensors, noting back in August that it had secured more than 85% of its series production supply chain. Luminar’s tech will also be standard on Volvo’s next-generation electric SUV. Luminar might be well-positioned in this market, given that it has production program partnerships with OEMs including Volvo, Daimler Trucks, and China’s largest auto company SAIC. Luminar projects that the total addressable market for its sensor and software solutions will stand at about $150 billion by 2030. The automotive industry is pivoting at a faster than expected pace to electric vehicles due to mounting environmental concerns, and self-driving technology, which is increasingly viewed as a default feature in premium EVs, should stand to gain traction. Register for your free account today at valuing a stock like Luminar is difficult, given that it hasn’t started meaningful commercial operations just yet, we think the risk-to-reward prospects are looking better at current levels. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. ET of the following day.ĭata provided by Nasdaq Data Link, a premier source for financial, economic and alternative datasets. After Hours trades will be posted from 4:15 p.m.Pre-Market trade data will be posted from 4:15 a.m.will report pre-market and after hours trades. Investors who anticipate trading during these times are strongly advised to use limit orders. Stock prices may also move more quickly in this environment. Participation from Market Makers and ECNs is strictly voluntary and as a result, these sessions may offer less liquidity and inferior prices. ET) and the After Hours Market (4:00-8:00 p.m. Investors may trade in the Pre-Market (4:00-9:30 a.m.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |