12/18/2023 0 Comments Nasdaq lazr newsThe relative lack of enthusiasm toward Innoviz seems like a concern. That’s been particularly true in the automotive space, with Nikola (NASDAQ: NKLA) and QuantumScape (NYSE: QS) two prominent examples. But many SPACs have soared after their mergers were announced. The merger was announced at $10 in December CGRO trades around $13 at the moment.Ī 25% “pop” isn’t terrible, obviously. The second, related, issue is that CGRO stock simply hasn’t done all that much. That aside, part of the appeal of the SPAC process is for the merger target to end up with a sponsor with industry experience, something which isn’t necessarily the case here. The fact that Collective Growth pivoted to a lidar play - and rather quickly - doesn’t provide a ton of confidence in the vetting process. It was set up by former Canopy Growth (NYSE: CGC) chief executive officer Bruce Linton to invest in a cannabis company. The first is that Collective Growth wasn’t designed to invest in an automotive play. But it’s worth highlighting two key reasons for skepticism toward the merger. Innoviz Technologies, which is merging with SPAC Collective Growth, has potential. For those who see signs of a bubble, patience is advised. For investors who believe the market was simply late to the story, LAZR stock is intriguing. There hasn’t been much in the way of news that supports that rally instead auto-tech stocks simply have gone a little nuts. LAZR stock has more than tripled since November, and that rally came after two months of basically sideways trading following the announcement of a merger between then-private Luminar and special purpose acquisition company (SPAC) Gores Metropoulos. Luminar’s tech has been built from the ground up, and a partnership with Volvo (OTCMKTS: VLVLY) puts a high-end imprint on that technology. That includes not only long-term growth in autonomous vehicles, but ADAS (advanced driver assistance systems) for driver-controlled vehicles. Luminar has estimated that its total addressable market will reach $150 billion by 2023. Indeed, our Matt McCall this month called LAZR stock the best pure-play on self-driving cars. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC.The most valuable of the lidar stocks, LAZR is an intriguing growth play. What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Following this news, Luminar's stock price dropped by $0.68 per share or 8.02% to close at $7.80 per share on March 20, 2023. As a result, Lidwave threatened Luminar with legal action, prompting the latter to remove the disputed images from its investor presentation and website. This came after Luminar displayed an image of the processor at an investor conference and on its website. What is Johnson Fistel investigating? Media sources reported on or around March 17, 2023, that Lidwave, a semiconductor developer, had accused Luminar of trying to pass off a Lidwave chip as its technology. Or for more information, contact Jim Baker at or (619) 814-4471 What if I purchased Luminar common stock? If you purchased Luminar common stock and suffered significant losses on your investment, join our investigation now:Ĭlick or paste the following web address into your browser to submit your losses: (NASDAQ: LAZR) ("Luminar" or the "Company") investors' losses may be recovered under the federal securities laws. SAN DIEGO, Ma(GLOBE NEWSWIRE) - Shareholder rights law firm Johnson Fistel, LLP is investigating whether Luminar Technologies, Inc.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |