Is Luminar Technologies (LAZR) a Good Investment Play For 2021?

While the electric vehicle sector has grown rapidly in recent years, it should be noted that the self-driving vehicle sector continues to be at the back of the minds of investors.Is Luminar Technologies (LAZR) a Good Investment Play For 2021?

One of the notable companies in that sector is Luminar Technologies Inc (NASDAQ: LAZR), which is involved with the self-driving technology space. Although the stock had hit fresh highs back in February, the Luminar stock has since tanked by as low as 40%. One of the main factors behind the decline is the meltdown in the tech sector.

However, the sharp decline could also prove to be an opportunity for new investors to get into the Luminar stock. While it is true that the recent trend in the tech sector might take some time to reverse, it needs to be kept in mind that Luminar is a company that could potentially unlock a new sector altogether. Hence, it is easy to see why the stock could be attractive to investors.

Michael Rowels

Weekend Contributor.Writing for business and finance publishers has become his passion over the last decades after he completed a master's degree in Financial Management. Sharing some opinions and forecasts to thousands of readers is a routine job for him but he never promises to invest in one stock.