1/9/2024 0 Comments Luminar technologies ipo![]() ![]() ![]() Richard asserts that this market is “still in its infancy” while also expressing that Luminar will eventually become “‘the automotive lidar’ leader.” That means big things are ahead for LAZR stock, regardless of post-IPO bounciness. What’s more, Northland analyst Gus Richard seems to concur - at least to a certain extent - with Russell’s outlook on the emerging lidar tech market. “We look forward to accelerating widespread commercial adoption of autonomy and proactive safety solutions and embarking on the next phase of our journey as a public company, which will solidify our leadership position well into the future and enable autonomy at an unprecedented scale.” If Russell has his way, the mainstreaming of lidar tech is imminent and Luminar will be its primary purveyor. In reality, this tech can actually move beyond basic vehicle detection and classification and even leverage artificial intelligence (AI) to “learn” from experience. I’ll admit, that’s a very simplistic summary of what lidar technology can do. This involves hardware and software technology that helps self-driving vehicles assess their surroundings. That’s short for light detection and ranging. So, what does Luminar do? It specializes in what’s known as automotive lidar. Instead, we need to understand the company before considering an investment. But let’s not be completely dazzled by his ambitious story. So, Russell is the captain steering the ship here. ![]() Reportedly, Russell owns 104.7 million shares of LAZR stock, making him a billionaire. And I was fortunate enough to be able to retain a good enough stake,” commented the 25-year-old. “I’m still relatively young, but … a lot of blood, sweat and tears have gone into it. When he was a teenager, Russell left Stanford University to focus on California-based Luminar in 2012 Outside of the company’s initial public offering (IPO), though, it’s important to understand Luminar’s story and the person behind it: Austin Russell. But this means that it may be possible to jump in on shares at a cheaper price point. 11, the stock price was down to the $30 area. Recently, LAZR has retraced a bit after shooting up to $47.80 on Dec. Prospective investors should understand that shares might bounce around for a while. Now, it’s difficult to determine a price range for this name since the SPAC deal was finalized very recently. In the first few days of trading on the Nasdaq Exchange, Luminar literally doubled in price. It didn’t really take long for LAZR stock to pop after the deal went through. 3 via a special purpose acquisition company (SPAC). LAZR Stock at a Glanceīefore we get into the driver’s seat and analyze this company, though, let’s take a few steps back. A long position in LAZR stock won’t necessarily make you billions, but at least you’ll have an early stake in what might turn out to be a multi-year runner. Perhaps you’ll even consider joining Russell’s quest for better self-driving tech. And for anyone who’s not yet familiar with the story of Luminar and its young founder, you’re in for a treat. That’s great news for folks who have been sitting on the sidelines. However, the retracement in this stock now offers a more favorable entry point. And they might actually be right about that. Value-focused investors might worry that LAZR went too high, too fast. ![]()
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