![]() Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Consequently any person acting on it does so entirely at their own risk. No representation or warranty is given as to the accuracy or completeness of this information. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. This information has been prepared by IG, a trading name of IG Markets Limited. Click on ‘buy’ or ‘sell’ in the deal ticket.Enter in the search bar and select the instrument.Create a live or demo IG Trading Account, or log in to your existing account.How to trade US shares with IGĪre you feeling bullish or bearish on Luminar Technologies’ stocks?Įither way you can buy (long) or sell (short) the asset using derivatives like CFDs offered on IG's industry-leading trading platform in a few easy steps: However, CEO Austin Russell recently said the company’s orderbook totalled US$1.3 billion, and he foresees strong margins from sales. Similarly, Aeva in November agreed to make its stock-market debut through a US$2.1 billion SPAC merger.Īnd Luminar has yet to turn a profit it recorded a US$95 million loss last year. ![]() The short-seller expected Luminar shares to sink to US$20, and instead recommended rival Velodyne Lidar, which had a market capitalisation below US$4 billion.Īdding insult to injury for Luminar was Velodyne’s 10 December announcement of an innovative sensor for autonomous mobile robotics.Īnother competitor, SoftBank-backed Innoviz Technologies, on 11 December revealed it will go public through a US$1.4 billion reverse merger closing in Q1 2021. Meanwhile, investment newsletter Citron Research also claimed in an 08 December tweet, that the lidar maker was overvalued based on its US$14 billion market capitalisation, describing Luminar as a ‘sucker’s game’. That said, Richard forecast Luminar’s sales more than doubling to US$35 million by 2022, then surging 2,000% to almost US$750 million by 2025. Though Richard is optimistic the startup will become an industry leader in the long run, he observed the market to still be in its infancy, and said the company faces execution risks.Īlso, Richard estimated that the automotive lidar market will be worth US$2.5 billion by 2025, noting Luminar was valued at six times that entire market opportunity based on its 08 December stock performance. Shortly after the Mobileye deal was first announced, Northland Securities’ Gus Richard rated Luminar’s stock ‘outperform’.īut, days later, the Wall Street analyst downgraded it to ‘market perform’ and gave a US$41 price target on 08 December. Daimler has also invested in the startup as part of a broader partnership to produce autonomous trucks. It will provide the technology for Volvo’s self-driving cars, slated to be available in 2022. Luminar produces lidar scanners, which use light pulses to render precise images of nearby objects to help self-driving cars avoid collisions. However, Mobileye said on Tuesday that its in-house sensors could eventually replace Luminar’s system. ![]() Mobileye had earlier inked a deal for Luminar to supply lidar for its robotaxi fleet. The decline came after Intel subsidiary Mobileye said it is looking to develop its own lidar sensors that will be cheaper, to be used in driverless cars by 2025. ![]() However, since then, shares have corrected a hefty 45% in five straight days of declines, sliding to US$22.87 on Tuesday (15 December). It then climbed 82% in three days to close at an all-time high of US$41.80 on 08 December. The vehicle sensor maker went public on 03 December 2020 via a reverse merger with a special-purpose acquisition company (SPAC), finishing at US$22.98. The hype appears to be subsiding on Luminar Technologies’ stellar Nasdaq start. ![]()
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