LAZR Stock: Why Luminar Technologies Shares Are Driving Higher Wednesday Dec. 16, 2020 at 11:45 a.m. ET on Aug. 24, Gores Metropoulos stock was trading at $11.49. Investors seek businesses with higher growth amid the COVID-19 pandemic. By teaming up with an SPAC, a startup can go public quicker without the scrutiny and risks associated with an IPO. Innoviz Technologies Ltd., an Israeli lidar startup backed by two of the world’s largest automotive suppliers, is going public in a $1.4 billion reverse merger with Collective Growth Corp. Luminar is going public sooner than expected. EquityZen is a marketplace for shares of proven pre IPO tech companies . Luminar Technologies (LAZR) stock price, charts, trades & the US's most popular discussion forums. Shares of LAZR stock will be available after Luminar Technologies and Gores Metropoulos completed their "business combination" on Thursday. Terms of Use He left Stanford University as a teenager in 2012 to start Luminar with help from a fellowship sponsored by Peter Thiel, the Silicon Valley tycoon who’s also invested in Facebook and Palantir. What we know about the Luminar Technologies IPO. Luminar Technologies Inc has agreed to go public through a $3.4 billion SPAC IPO merger with Gores Metropoulos Inc GMHI stock. Price Action: Shares of Collective Growth … iRhythm Technologies price target raised to $265 from $240 at Truist Securities, stock rated buy Wed, 6 Jan 2021 09:55:23 UTC via MarketWatch; Shoals Technologies Group Begins IPO Plan Tue, 5 Jan 2021 17:13:49 UTC via Seeking Alpha; Uber Technologies price target raised to $80 from $54 at Deutsche Bank Mon, 4 Jan 2021 07:55:53 UTC via MarketWatch Austin Russell, founder and CEO of Luminar, had this to say about the LAZR stock launch: This is an incredibly proud moment for the entire Luminar team and a … LUMINAR TECHNOLOGIES A AKTIE und aktueller Aktienkurs. Analysts have given the company’s stock an average 52-week price target of $37, forecast between a low of $30 and high of $41. It is trading at 348 times 2021 revenue, not earnings -- an absolutely absurd valuation. The stock opened at around $25 and sank nearly 25% to close its first trading day at $18.69. The company has a market value of $573 million. The company went public on Dec. 3 … it does not seem to include any kind of premium that other SPAC stocks have had … In the last 12 months, LAZR had revenue of $17.32 million and -$2.19 million in losses. That compares to 14.5x for Luminar, 3.2x for Aeva and 5.2x for Velodyne (2024 revenue estimate used). Luminar and Gores Metropoulos, Inc., announce a merger that paves the way for Luminar to become a publicly listed company. 1h zacks.com - Investors in Luminar Technologies, Inc. (LAZR Quick QuoteLAZR - Free Report) need to pay close attention to the stock based on moves in the options market lately. Luminar Technologies market cap is $11.4 b.. View Luminar Technologies stock / share price, financial statements, key ratios and more at Craft. The company has projected long-term annual revenues in the billions of dollars, but it posted a nearly $95 million net loss last year on just about $13 million in revenue. Privacy Notice Gores Metropoulos, Inc. stock symbol GMHI to be changed to LAZR symbol after the merger is complete. Your California Privacy Rights Gores Metropoulos, Inc. It enables autonomous driving. Luminar Technologies, Inc. Class A (US:LAZR) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. Luminar stock can't quite make up its mind which direction it is heading.Since coming public in a reverse merger IPO through special purpose … Founder Russell, a Free real-time prices, trades, and chat. Luminar and Gores Metropoulos Announce Closing of Business Combination Luminar Technologies, Inc. (“Luminar”), the global leader in automotive lidar hardware and software technology, and Gores Metropoulos, Inc. (“Gores Metropoulos”) (Nasdaq: GMHI, GMHIU and GMHIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC and an affiliate Gores Metropoulos investors reacted positively to the merger news. Luminar, Driverless-Car Maker, Plans $3.4B Reverse-Merger IPO Driverless-car startup Luminar Technologies will go public in a $3.4 billion merger … What we know about the Luminar Technologies IPO. … In addition to co-founding PayPal, Thiel was also an early investor in Facebook. “It is totally surreal and it totally makes sense and it is hard to explain the dichotomy of it, but this has always been the goal,” Russell told CNBC on Thursday. That made Russell’s stake of 104.7 million shares — about a third of the company’s outstanding stock — worth $2.4 billion, according to Forbes, which called him the world’s youngest self-made billionaire. Luminar emerged from the crowded startup field by offering lidar sensors at a lower price. 12/08: LUMINAR TECHNOLOGIES, INC./DE: Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Unregistered Sale of Equity Securities, Material Modification to Rights of Security Holders, Changes in Registrant's Certifying … Form S-1 filed by Luminar Technologies, Inc./de with the security and exchange commission. Its financial growth will reportedly depend on turning its research partnerships into production deals. Thiel also co-founded Palantir, which is a CIA-backed big data company valued at $20 billion. His wealth surged even higher on Friday with Luminar’s shares climbing nearly 37 percent to $31.40, leaving Russell with a paper net worth of nearly $3.3 billion heading into the weekend. Lidar stocks like Velodyne and Luminar Technologies rallied Tuesday on a report that Apple could make a self-driving car by 2024, while Ouster said it would go public via a blank-check company.. X Luminar is partnered with 7 of the top 10 global automakers and is set to power the introduction of highway self … December 4, 2020 | 9:10am | Updated December 4, 2020 | 5:35pm. Thanks for contacting us. Foothold With Shoe Palace Acquisition. The Luminar IPO date may come as early as the end of the fourth quarter in 2020. Latest Headlines. View daily, weekly or monthly format back to when Luminar Technologies, Inc. stock was issued. Luminar Technologies historical price data and LAZR charts. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. Updates. We’ve seen the future of transportation. About Luminar Stock. Luminar IPO luminartech.com | Autonomous Technologies | Founded: 2015 | Funding to Date: $130,000,000 Luminar was founded in 2012 by Austin Russell and Jason Eichenholz. Luminar, Driverless-Car Maker, Plans $3.4B Reverse-Merger IPO Luminar, an autonomous-driving company, will go public through a merger with blank-check company Gores Metropoulos. Is Peugeot Coming Back to the North American Market? Luminar has raised a total of $420M in funding over 7 rounds. Currently, Thiel has a net worth of $2.1 billion. Free forex prices, toplists, indices and lots more. On Monday, Aug. 24, Luminar Technologies announced that it is going public through a $3.4 billion merger with Gores Metropoulos. Support: 888-992-3836 | NewsWire | Home | Login / Register. John … Reminds Stockholders to Vote in Favor of the Business Combination With Luminar Technologies, Inc. Nov 24, 2020 Luminar Accelerates Commercial Momentum With … Luminar Technologies will likely be a winner, but LAZR stock is valued too high. 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The acquisition turned Luminar into a public company, with the combined entity retaining the Luminar Technologies name. Stocks; Commodities; Forex; Cryptocurrency; The Lounge; Hot! Boards. View More Companies. Luminar is the latest buzzy company to go public by merging with a special purpose acquisition company, or SPAC, a publicly traded firm that’s set up solely to combine with another firm that takes over its stock listing. The merger aims to get Luminar’s lidar laser sensors onto global automakers’ production lines. The company’s high-tech sensors will provide hands-free highway driving in select Volvo vehicles in 2022. In a phone interview, Luminar CEO Austin Russell said, “By the time this is over, we will have brought in north of $500 million—that allows us to make these kinds of strategic investments and additionally accelerate our programs and timelines and customer adoption.”. The Florida-based firm — which he founded when he was just 17 — makes so-called lidar scanners that use lasers to give autonomous cars a three-dimensional view of the road and what’s around them. That is because … Buy or sell Luminar stock pre IPO via an EquityZen fund. Shares opened at $23.65 and gave the company a valuation of about $7 billion. Although both companies’ boards have approved the deal, it’s still subject to regulatory and stockholder approvals as well as other closing conditions. LUMINAR TECHNOLOGIES, INC. (E xac t N ame of R e gi s tr an t as S p e c i fi e d i n I ts C h ar te r ) D e l aw are 3714 83-1804317 (State or O the r Jur i s di c ti on of I nc or por ati on or O r gani z ati on) (P r i mar y Standar d I ndus tr i al Cl as s i fi c ati on Code Numbe r ) (I .R.S. Data is currently not available. Latest News . They buy a few million shares to create momentum, then sell the same shares short to create downward momentum which creates fear in retail. Legal Name Luminar Technologies, Inc. Stock Symbol NASDAQ:LAZR ; Company Type For Profit; Contact Email hello@luminartech.com; Founded in 2012 by CEO Austin Russell, Luminar is the leading autonomous vehicle and lidar technology company for consumer cars and trucking. Luminar is currently valued at more than $3 billion. Luminar Technologies IPO Details On December 3, 2020, shareholders approved the deal. Luminar is registered under the ticker NASDAQ:LAZR . “Now it’s all about scale, execution and seeing it though,” Russell told Reuters. Luminar Technologies, Inc. (LAZR) latest earnings report: revenue, EPS, surprise, history, news and analysis. 4,131, This story has been shared 2,387 times. Nachrichten zur LUMINAR TECHNOLOGIES A Aktie - Aktuelle TOP-Meldungen - Die wichtigsten LUMINAR TECHNOLOGIES A News im Überblick - seriös, schnell und kompetent. November jobs report shows slower-than-expected numbers, This story has been shared 4,131 times. ... cheaper route to going public and raising funds than a conventional IPO, and one that looks particularly appealing given the runup in major U.S. stock … https://t.co/Dk5bR4pzza. Luminar Technologies operates as a vehicle sensor and software company for passenger vehicles and trucks. “We set up the company to be a long-term sustainable business and power the future of autonomy for all of these automakers.”. Further, Luminar Technologies, Inc. (LAZR) has a beta value of 0, and an average true range (ATR) of 4.53. After the deal closes, Luminar Technologies will trade on Nasdaq under the ticker “LAZR.”. Request Access. According to the U.S. Securities and Exchange Commission (SEC) filings, Russell will own about a … The company’s shares rose 10 percent to $11.60 per share, which is the highest jump since March 2019. Luminar Technologies is a driverless car startup company that was founded by CEO Austin Russell in 2012. Following the IPO, Gores will change its name to Luminar Technologies … Get today's Luminar Technologies stock price and latest LAZR news as well as Luminar Tech real-time stock quotes, technical analysis, full financials and more. Shares of Luminar Technologies (LAZR) surged as high as 39% today after going public through a reverse merger with SPAC Gores Metropoulos (NASDAQ:GMHI).The maker of … Find the latest Earnings Report Date for Luminar Technologies, Inc. Class A Common Stock (LAZR) at Nasdaq.com. LUMINAR TECHNOLOGIES: Thinking about buying stock in Agios Pharmaceuticals, Clo.. 2020: LUMINAR TECHNOLOGIES: Deutsche Bank Starts Luminar Technologies at Buy With $37.. 2020: LUMINAR TECHNOLOGIES: Northland Upgrades Luminar Technologies to Outperform Fro.. 2020: SECTOR UPDATE: Technology Stocks Gain Premarket Wednesday We've received your submission. Do Not Sell My Personal Information, Your California Privacy Rights pic.twitter.com/gEyJD7NFX0, According to Forbes, Russell said, “This milestone is pivotal not just for us, but also for the larger automotive industry. Luminar is a breakout autonomous vehicle sensor company that came out of stealth after five years in development. Contributor. Athletic Company JD Sports Gets a U.S. Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The remaining $170 million will come from investors, including Thiel. Luminar Technologies, Inc. is producing advanced sensor technologies for … Best SPAC to buy now!!! Luminar Technologies Inc. LAZR, -5.92% shares rallied nearly 40% Friday, doubling in its two days as a public company following a merger with a blank-check company. While Russell said it can be hard for the market to value new technologies that lack existing market comps, he noted Luminar is working with … Luminar Stock. Investors. Note: all dollar amounts on this page are in US dollars unless otherwise stated. In May 2020, Luminar signed a multiyear agreement with Volvo. Benzinga's PreMarket Prep airs every morning from 8-9 a.m. Luminar Technologies. Gores Metropoulos will pay $400 million in cash, which it raised in an IPO in November 2019. Luminar is the latest transportation company to go public via a "reverse merger" with a so-called "blank check" special acquisition company, or SPAC. Russell is one of the first billionaires to emerge from the self-driving vehicle market. Author: ET. Luminar IPO luminartech.com | Autonomous Technologies | Founded: 2015 | Funding to Date: $130,000,000 Luminar was founded in 2012 by Austin Russell and Jason Eichenholz. Luminar Technologies, Inc. (LAZR) latest earnings report: revenue, EPS, surprise, history, news and analysis. Luminar Technologies Inc. LAZR, -5.92% shares rallied nearly 40% Friday, doubling in its two days as a public company following a merger with a … Its stock is now … Looking at the price targets, the low is -6.63% off current price level while to achieve the yearly target high, price needs to move +27.61%. Luminar is funded by 21 investors. Investors in Luminar Technologies, Inc. LAZR need to pay close attention to the stock based on moves in the options market lately. At the closing, the combined company will have an implied pro forma enterprise value of $2.9 billion and an equity value of $3.4 billion. So far in 2020, there has been a surge in automaker startups making “blank check” merger deals. Luminar Technologies (NASDAQ: LAZR) revealed its plan to go for an IPO in August via a reverse merger with a special purpose acquisition company. The merger should close in the fourth quarter of 2020. Their stock opened with $30.00 in its Dec 3, 2020 IPO. Luminar Technologies shares drop 3% after short-seller Citron calls stock a 'suckers game' Dec. 08, 2020 10:55 AM ET Velodyne Lidar, Inc. (VLDR) By: Brandy Betz , SA News Editor 89 Comments Do Not Sell My Personal Information. Nachrichten zur Aktie Luminar Technologies Inc Registered Shs -A- | A2QDGP | LAZR | US5504241051 We're getting close to year's end, so keep your nose to the ground on … The company has taken the lead in the lidar sensor market with its superior self-driving and next-generation safety systems. What we know about the Luminar Technologies IPO On December 3, Luminar Technologies, a company that manufactures automotive LiDAR technology, went public through a merger with special purpose acquisition company (SPAC) Gores Metropoulos. He is a well-known tech billionaire and venture capitalist. Lidar stocks like Velodyne and Luminar Technologies rallied Tuesday on a report that Apple could make a self-driving car by 2024, while Ouster said it would go public via a blank-check company.. X Discover historical prices for LAZR stock on Yahoo Finance. Luminar is going to become publicly traded by merging with a special purpose acquisition company, or SPAC. The remaining $170 million will come from investors, including Thiel. Luminar has continued to ink high-profile deals even in the pre-merger phase. The blank-check company’s stock closed at $10.85, up around 10% from its $10 March 2019 IPO price. Because we built it. Gores Metropoulos will pay $400 million in cash, which it raised in an IPO in November 2019. 1,771, © 2021 NYP Holdings, Inc. All Rights Reserved Technology. Careers. Products. Data is currently not available. Russell received a $100,000 fellowship from Thiel’s foundation in 2013 to build up the company. Gores Metropoulos is a special purpose acquisition company (SPAC) affiliated with the Gores Group investment firm. The company operates in two segments, Autonomy Solutions and Other Component Sales. Source. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. Company profile page for Luminar Technologies Inc including stock price, company news, press releases, executives, board members, and contact information Why Luminar Technologies' Stock Spiked Today. Post was not sent - check your email addresses! … Xpeng, which began trading Thursday on the New York Stock Exchange under the ticker symbol XPEV, said in a filing that it sold 99.7 million shares for … Velodyne stock closed at $15.12 on Friday but traded up around 4.5% on … Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. Sorry, your blog cannot share posts by email. As of 9:33 a.m. Under Russell’s leadership, Luminar has inked a deal to supply lidar units for Volvo vehicles and secured partnerships with Daimler Truck and Mobileye, Intel’s autonomous vehicle unit. At the closing, Luminar stockholders will get 271.8 million shares of Gore Metropoulos common stock. Current Luminar investors will receive about 272 million shares of Gores Metropoulos common stock at closing. That is because the May 21, 2021 $10.00 Put had some of the highest implied volatility of all equity options today. GoDaddy Stock Looks Like a Buy Due to Digital Potential, U.K. Your Ad Choices Luminar was bought in August by Gores Metropoulos Inc., backed by billionaires Alec Gores and Dean Metropoulos. Innoviz Technologies Ltd., an Israeli lidar startup backed by two of the world’s largest automotive suppliers, is going public in a $1.4 billion reverse merger with Collective Growth Corp. The sensors bounce lasers of objects to guide autonomous vehicles. Hyped up stocks without revenue are target for hedge funds. Earnings per share was -$0.03. We’ll walk through what you need to know about buying Luminar Technologies stocks from Canada. As Coinspeaker reported, the … Luninar isn;t an electric-vehicle company. AmerisourceBergen and Walgreens Sign 'Deal of a Lifetime'. The founder of a startup that helps cars drive themselves just became a billionaire — and he’s barely old enough to rent a car on his own. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company's stock market debut on Thursday. Although he sold most of his shares, Thiel is still on Facebook’s board of directors. We are making our next industry leap through our new long-term partnership with Gores Metropoulos, a team that has deep experience in technology and automotive and shares our vision of a safe autonomous future powered by Luminar.”. Sitemap 2,387, This story has been shared 1,771 times. 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