The stock also remains down by about 47% year-to-date. Luminar, a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by about 6% over the last week, trading at $16.50 per share. Investing in Electric Vehicle Component Supplier Stocks can be a good alternative to play the growth in the EV market. A change of 11% or more over twenty-one trading days has a 12% event probability, which has occurred 27 times out of 224 in the last year.Įlectric vehicles are the future of transportation, but picking the right EV stocks can be tricky.Luminar stock rose 11% over the last twenty-one trading days (about one month), compared to the broader market (S&P500) which rose by 2.8%.Luminar also appears to be on track for the production of its low-cost, mass-market Iris sensors, with the company noting that development and tooling were both predominantly complete. The company says that it is on track for 60% year-over-year growth of its forward-looking order book in 2021. Moreover, the company has actually been executing reasonably well with winning new customers and bolstering its order book. However, financial results aren’t really important for Luminar at this point, as the company hasn’t commenced meaningful commercial operations just yet. The decline follows Luminar’s mixed Q3 2021 results, which saw its revenue fall slightly short of estimates, with EPS coming in line.
This compares to the S&P 500 which has remained roughly flat over the same period. Luminar, a company that develops lidar sensors for use in self-driving cars, has seen its stock decline by roughly 14% over the last week (five trading days).
(Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images BRAZIL - 4: In this photo illustration a Luminar logo seen displayed on a smartphone.
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