Luminar technologies stock price10/30/2022 ![]() You should do your own thorough research before making any investment decisions. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. ![]() Information on these pages contains forward-looking statements that involve risks and uncertainties. Whether or not this truly comes to fruition remains to be seen, but the idea of it is certainly an enticing investment and Luminar offers an incredible opportunity at its current price levels. It is clear that the future of the automotive industry revolves around electric vehicles, but investors are also putting their money into autonomous driving technology as well. The recent proposal by the Alliance for Automotive Innovation to the Biden administration had specific wording that included investments into new technologies and manufacturing infrastructure. The real future of Luminar, at least in investor's eyes, is the autonomous driving technology that is coming down the pipeline. On the contrary, though, both companies doubled down on their partnership and the stock reacted appropriately to this news. The confusion came when a report surfaced revealing that Mobileye would be creating its own lidar technology which investors took as a dismissal of Luminar. That relationship is with a subsidiary of chip giant Intel (NASDAQ:INTC) called Mobileye which is in the autonomous driving industry. The stock closed the trading session at $24.70 and had a trading volume that was nearly triple the daily average that Luminar has seen. On Wednesday, shares rebounded by 8% as Luminar cleared up some miscommunication about one of its partnerships. ![]() The lidar technology firm has hit highs of $47.80 within the first two weeks of being a publicly-traded stock but has since fallen back down to Earth. NASDAQ:LAZR has been one of many companies to have eventful debuts on Wall Street after completing a merger via a SPAC IPO. ![]() New regulations for automotive technology may help push LAZR to new price levels.LAZR re-confirms its working relationship with Mobileye.NASDAQ:LAZR jumps 8% as the NASDAQ finishes at new all-time highs. ![]()
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