![]() ![]() The financials here are reasonable, and a turnaround is long overdue. Most of the company’s shortcomings have been priced in, and expectations for the future are subdued. Even with the earnings miss, it is growing at a double-digit clip year-over-year.įurthermore, I believe the earnings miss has translated into a great buying opportunity for the stock. Source: Jonathan Weiss / īurlington Stores (NYSE: BURL) tumbled more recently and I believe the discount here is too compelling to ignore. ![]() Luminar Technologies expects to end the year with $300 million in liquidity and a positive gross margin. ![]() The concern about profitability is also overblown. The company expects triple-digit sales growth for the next five years, and I believe the business’ losses are worth it, considering the market share they’ve been capturing. Wall Street is all about profitability these days, yet the eye-watering sales growth of Luminar Technology is ignored entirely. Still, it is clear that there is significant bearish sentiment about LAZR stock. Car manufacturers such as Volvo (OTCMKTS: VLVLY) and Xpeng (NYSE: XPEV) already have cars that use Luminar’s LiDAR technology, and the company’s tech has been gaining popularity, especially in China. It can also work in various weather and lighting conditions, and I believe it will be used by most self-driving cars in the future once it is the most cost-effective. LiDAR technology can provide higher accuracy and resolution than other sensing technologies, such as radar and cameras. Luminar Technologies (NASDAQ: LAZR) specializes in LiDAR technology for electric vehicles. ![]()
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