Reported 11 days ago
Luminar Technologies saw its stock surge by over 10% following the release of its third-quarter earnings, which, despite falling short of sales expectations, included positive news of new contracts with Volvo and a major Japanese automaker. The company's loss per share matched Wall Street forecasts, and management hinted at future growth, suggesting that sales would have been higher without a renegotiated contract. Investors remain cautious, noting the stock's significant decline over the year, but optimism around autonomous vehicle trends could signal a potential recovery.
Source: YAHOO