Why Luminar Technologies Stock Raced Higher on Thursday
Luminar Technologies (NASDAQ: LAZR), which designs next-generation light detection and ranging (lidar) products that help assisted-driving vehicle systems "see," saw its stock accelerate impressively on Thursday.Its price rose by nearly 9% on news of a deal with a storied American industrial company. That performance was far better than that of the S&P 500 index, which ended the day 0.3% in the red. That company, Luminar, is industrial equipment and vehicle maker Caterpillar. Luminar will work on developing lidar solutions for an autonomous industrial vehicle its partner is developing. Continue reading
Luminar Technologies (NASDAQ: LAZR), which designs next-generation light detection and ranging (lidar) products that help assisted-driving vehicle systems "see," saw its stock accelerate impressively on Thursday.
Its price rose by nearly 9% on news of a deal with a storied American industrial company. That performance was far better than that of the S&P 500 index, which ended the day 0.3% in the red.
That company, Luminar, is industrial equipment and vehicle maker Caterpillar. Luminar will work on developing lidar solutions for an autonomous industrial vehicle its partner is developing.
