Home > Boards > Free Zone > All Trading - Technical > Market Direction and Stock Trends

Luminar Technologies (LAZR) Rally Following Volvo Announcement

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Member Level 
Followed By 573
Posts 78,347
Boards Moderated 44
Alias Born 03/10/04
160x600 placeholder
Chubb 3Q Profit Rose, Helped by Strong Premium Revenue Growth
By Jeffrey T. Lewis
Capital One Beats 3Q Expectations
Texas Instruments Reports 22% Revenue Increase in 3Q -- Earnings Review
Corn Rises on Energy Price Strength -- Daily Grain Highlights
Raytheon Reports Negative Impact from FX Rates -- Currency Comment
Front Month Nymex Natural Gas Fell 0.27% to Settle at $5.8820 -- Data Talk
Front Month Nymex RBOB Gasoline Rose 0.02% to Settle at $2.5168 -- Data Talk
Invesco Says FX Rates Reduced Assets in 3Q -- Currency Comment
S&P Global Up Nearly 5%, on Pace for Record High Close -- Data Talk
Switzerland Agency Approves Moderna and Pfizer/BioNTech Boosters
BioVie Shares Rise 24% After FDA Approves Phase 2 Study
Top Company News of the Day
U.S. Crude-Oil Stockpiles Likely Increased in DOE Data, Analysts Say
Shell to Acquire 248 Retail Sites in the US
Bakkt Shares Drop 17% After Monday Run-Up
U.S. Ethanol Production and Stocks Estimates for Oct 22
Eni, Point Resources Weigh Listing for Var Energi
Visa Likely to Post Higher 4Q Profit, Revenue -- Earnings Preview
FTSE 100 Index Ends 0.76% Higher at 7277.62 -- Data Talk
DAX Ends 1.01% Higher at 15757.06 -- Data Talk
CAC 40 Index Ends 0.80% Higher at 6766.51 -- Data Talk
STOXX Europe 50 Index Ends 0.87% Higher at 3671.20 -- Data Talk
EURO STOXX 50 Index Ends 0.85% Higher at 4223.97 -- Data Talk
STOXX Europe 600 Index Ends 0.75% Higher at 475.74 -- Data Talk
Stellantis to Maintain DS Automobiles Brand in China
FTSE 100 Closes Up 0.8%, Led by Reckitt Benckiser
Nvidia on Track for Record High Close, Best Performer in S&P 500 and Nasdaq 100 So Far Today -- Data Talk
Eli Lilly Alzheimer's Programs Head in Different Directions
DiscoverGold Member Level  Thursday, 06/24/21 05:47:18 PM
Re: None
Post # of 39826 
Luminar Technologies (LAZR) Rally Following Volvo Announcement
By: Hassan Maishera | June 24, 2021

• Volvo will integrate Luminar’s new Iris lidar system in its upcoming electric flagship SUV, with Luminar’s stock price currently up by 10%.

The shares of Luminar Technologies are performing excellently today after Volvo announced that it would be integrating its lidar system as standard equipment on a vehicle. This latest development makes Volvo the first major auto manufacturer to integrate the technology.

Volvo integrates the Lidar system into its EVs

Volvo has announced that it would be integrating Luminar’s new Iris lidar system in its upcoming electric flagship SUV. The announcement means that Volvo is the first major car manufacturer to integrate the technology as standard equipment on a vehicle.

The Iris Lidar system is an advanced sensor that allows a car to view its environment better. The system will be integrated into Volvo’s electric flagship SUV, a successor to its current XC90. The electric SUV is expected to be unveiled by next year.

Volvo CEO Hakan Samuelsson said, “Volvo Cars is and always has been a leader in safety. It will now define the next level of car safety. By having this hardware as standard, we can continuously improve safety features over the air and introduce advanced autonomous drive systems, reinforcing our leadership in safety.”

Lidars (short for light detection and ranging systems) allow cars to sense their surroundings and help avoid obstacles. Luminar founder and CEO Austin Russell is confident that although this is the first time the technology is standardized, it wouldn’t be the last time.

Russell revealed that the technology is integrated into Volvo’s next-generation EV platform, implying that Volvo could offer it as a standard or optional on all of its upcoming electric vehicles.

Luminar Technologies’ stock price performing excellently

Luminar Technologies’ stock price has been rallying since the announcement earlier today. Thanks to this latest development, Luminar Technologies is one of the best-performing stocks today.

LAZR stock chart. Source: FXEMPIRE

LAZR was up by 12% during Thursday’s pre-market trading session. It is now up by 10% since the market opened, surpassing the $24 mark earlier today. The latest rally could see LAZR recover its losses as it is over 20% down year-to-date.

Read Full Story »»»


Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences