AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |
Back to Blog
Should you buy luminar stock2/26/2024 These are Nvidia Drive Hyperion 8, Drive Chauffeur, and Drive Concierge. Nvidia has been championing autonomous driving for some time now and is rolling out three technologies to support its ambitions. The Luminar deal is one of several exciting announcements made at Nvidia's virtual GPU Technology Conference (GTC). How is Nvidia involved in self-driving cars? Read: Growth Opportunities in Advanced Semiconductor Tech And the reality is self-driving cars are still many years away. The Nvidia news undoubtedly gives it clout but its profitability that matters long term. Whether LAZR is a good stock to buy remains highly speculative. But the Nvidia news has brought it back above $20 a share. In recent months it's been consolidating around the mid-teens. However, the excitement was soon replaced with extreme volatility, and the stock price was brought back to earth with a bump. This led Luminar's share price to soar over 300% within a month of going public. At the time, SPAC listings were all the rage and, coupled with Luminar's ambitious plans, made it an attractive proposition. The deal marks an inspiring achievement for Luminar, which went public via a special purpose acquisition company ( SPAC) a year ago. Luminar is a manufacturer of Lidar sensors, with its laser-focused sights set on autonomous driving. It's good news for the smaller company, and the LAZR share price shot up 32%, settling at a 15% rise by the end of the day. It's been agreed that Luminar will supply laser sensors for Nvidia's self-driving car platform. Luminar Technologies (NASDAQ: LAZR) recently announced a deal with tech giant NVIDIA Corporation (NASDAQ: NVDA).
0 Comments
Read More
Leave a Reply. |