Innoviz: Lidar SPAC Trading At $10
- Innoviz Tech. recently completed a SPAC deal to go public in the Lidar space.
- The stock traded below the key $10 threshold.
- The stock trades at only 1.8x EV/2025 revenue multiple, but the company appears to lack the contracts to support a revenue target of $581 million.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
The once hot Lidar SPACs have seen several stocks break the key $10 threshold. One such Lidar and perception software company is Innoviz Technologies (INVZ), now trading back above $10 after closing the SPAC deal recently on April 6. My investment thesis is more Neutral on the stock due to a lack of visibility on contracts in comparison to other Lidar stocks.
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