Innoviz Technologies: Accelerated Path
Update - May 22, 2023
Innoviz is rallying nearly 10% along with the general Lidar sensor space. All of the stocks are turning more bullish has production deals are starting to line up for the end of 2023 and into 2024.
Original article posted on May 18
- Innoviz Technologies reported a mixed Q1 2023 earnings report, but the future is based on the strong order book.
- The Lidar sensor company announced another production auto deal, expected to reach production in 2024.
- Innoviz Technologies stock is cheap with a market cap of only $400 million, but shareholders face a potential dilutive equity raise in the next year.
- This idea was discussed in more depth with members of my private investing community, Out Fox The Street. Learn More »
As 2023 heads towards the midpoint, Innoviz Technologies Ltd. (NASDAQ:INVZ) is quickly moving toward shipping Lidar sensors for production autonomous vehicles. The Lidar company even sees programs with accelerated paths to production, with timelines around 2024 and 2025 just around the corner. My investment thesis remains ultra Bullish on the stock, with a substantial order backlog set to grow over the years.
Read the full article on Seeking Alpha.
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