Luminar: Full Speed Ahead
Update - May 18, 2023
Apparent massive insider buying by the CEO. Russell Austin appears to have bought 3.6 million shares for $21.6 million in the prior couple of trading days.
Update - Apr. 20
Despite all the good news, Luminar trades back to nearly $6. The stock appears to have strong support around this area. While it isn't clear when investors will finally believe the bullish stories in the Lidar space, it will eventually occur. Investors buying weakness will be rewarded.
Original article posted on Apr. 18
- Luminar announces plans for another Lidar sensor factory to build another 600K sensors annually.
- The company already has a backlog of $3.4 billion with a forecast to reach $4.4 billion this year.
- LAZR stock is cheap trading near all-time lows despite continuing to line up new orders and building more factories to meet targets for 100% growth.
In a somewhat surprising announcement, Luminar Technologies (NASDAQ:LAZR) is suddenly building a new manufacturing facility quickly after only recently opening a new factory in Mexico. The Lidar stock continues to trade weak due to limited near-term sales in a market still looking for contract verification. My investment thesis remains Bullish on the stock with the market ignoring the strong contract backlog in the Lidar sector.
Read the full article on Seeking Alpha.
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