![]() 14, this company could be a $5 billion business by 2030. But, with this company and its rivals working to bring costs down, that could quickly change in a matter of years.Īnd what’s the long-term potential for Luminar, and in turn, GMHI stock? As InvestorPlace’s Mark Hake broke it down Oct. Currently, lidar systems are not cost-effective for widespread use. The major exception? Tesla (NASDAQ: TSLA), which prefers camera-based systems.īut, despite Elon Musk bucking the trend, chances are lidar becomes the norm for AVs. Most companies developing self-driving cars are going with Lidar-based systems. It’s the sensors and software that allow self-driving cars to safely operate. What is Lidar technology? Lidar short for light detection and ranging, is basically laser radar. So what’s the story with this SPAC’s acquisition target? Luminar is one of several names providing Lidar technology to the automotive industry. ![]() And with the pullback giving investors a more favorable entry point, now may be the time to take a small, long-term position. Sure, it’s going to take years for things to play out.īut, given how quickly the company has expanded in less than two years, continued rapid growth seems possible. This factor does little to change the company’s underlying growth story. Yet, you can chalk up much of this decline to the overall sell-off in SPAC stocks on news of increased regulations. After rallying as high as 37% over its $10 per share offering price, the stock today trades around $10.50 per share. ![]() Yet, despite these prospects, GMHI stock has sold off in recent weeks.
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