After spending the whole day in red, Luminar Technologies Inc (NASDAQ:LAZR) stock had seen a sudden buying in the final few minutes of the closing session.
The stock got attention following InsideEVs report suggesting Tesla’s (TSLA) Model Y was spotted testing LiDAR tech.
The stock was trading lower by 3% before the above report, however, the stock soared over 10% and closed near to session high.
LAZR stock has gained about 23% over the past week. Nevertheless, the stock is still down over 50% from its 52-week high and 25% year-to-date.
Last week, the company reported Q1 adjusted EPS of ($0.08); revs +37.2% yr/yr to $5.31 million vs $4.8 million S&P Capital IQ Consensus.
Co also announces that Celestica (CLS) and Fabrinet (FN) have each partnered with Luminar to deliver Iris in series production. This complements Luminar’s in-house advanced manufacturing facility in Orlando, Florida, which engineers process and manufacturing technology and techniques to deploy into production with its manufacturing partners.
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