Stocks; Commodities; Forex; Cryptocurrency; The Lounge; Hot! Do Not Sell My Personal Information, Your California Privacy Rights The acquisition turned Luminar into a public company, with the combined entity retaining the Luminar Technologies name. Form S-1 filed by Luminar Technologies, Inc./de with the security and exchange commission. Your Ad Choices Luminar, Driverless-Car Maker, Plans $3.4B Reverse-Merger IPO Driverless-car startup Luminar Technologies will go public in a $3.4 billion merger … Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company's stock market debut on Thursday. He is a well-known tech billionaire and venture capitalist. AmerisourceBergen and Walgreens Sign 'Deal of a Lifetime'. Hyped up stocks without revenue are target for hedge funds. Gores Metropoulos, Inc. stock symbol GMHI to be changed to LAZR symbol after the merger is complete. LUMINAR TECHNOLOGIES A AKTIE und aktueller Aktienkurs. The company has taken the lead in the lidar sensor market with its superior self-driving and next-generation safety systems. As of 9:33 a.m. Looking at the price targets, the low is -6.63% off current price level while to achieve the yearly target high, price needs to move +27.61%. 4,131, This story has been shared 2,387 times. View daily, weekly or monthly format back to when Luminar Technologies, Inc. stock was issued. Their stock opened with $30.00 in its Dec 3, 2020 IPO. Do Not Sell My Personal Information. The merger is expected to close in 2020’s fourth quarter. Luminar Technologies historical price data and LAZR charts. What we know about the Luminar Technologies IPO On December 3, Luminar Technologies, a company that manufactures automotive LiDAR technology, went public through a merger with special purpose acquisition company (SPAC) Gores Metropoulos. The merger aims to get Luminar’s lidar laser sensors onto global automakers’ production lines. Latest News . As a result, Luminar Technologies stock started trading. That compares to 14.5x for Luminar, 3.2x for Aeva and 5.2x for Velodyne (2024 revenue estimate used). “Now it’s all about scale, execution and seeing it though,” Russell told Reuters. Support: 888-992-3836 | NewsWire | Home | Login / Register. Luminar Technologies is a driverless car startup company that was founded by CEO Austin Russell in 2012. Although he sold most of his shares, Thiel is still on Facebook’s board of directors. Markets LAZR. View More Companies. Data is currently not available. Earnings per share was -$0.03. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. Lidar stocks like Velodyne and Luminar Technologies rallied Tuesday on a report that Apple could make a self-driving car by 2024, while Ouster said it would go public via a blank-check company.. X Luminar, Driverless-Car Maker, Plans $3.4B Reverse-Merger IPO Luminar, an autonomous-driving company, will go public through a merger with blank-check company Gores Metropoulos. Current Luminar investors will receive about 272 million shares of Gores Metropoulos common stock at closing. Luminar Technologies shares drop 3% after short-seller Citron calls stock a 'suckers game' Dec. 08, 2020 10:55 AM ET Velodyne Lidar, Inc. (VLDR) By: Brandy Betz , SA News Editor 89 Comments Legal Name Luminar Technologies, Inc. Stock Symbol NASDAQ:LAZR ; Company Type For Profit; Contact Email hello@luminartech.com; Founded in 2012 by CEO Austin Russell, Luminar is the leading autonomous vehicle and lidar technology company for consumer cars and trucking. ET on Aug. 24, Gores Metropoulos stock was trading at $11.49. Contributor. Luminar Stock. Further, Luminar Technologies, Inc. (LAZR) has a beta value of 0, and an average true range (ATR) of 4.53. Luninar isn;t an electric-vehicle company. Investors in Luminar Technologies, Inc. LAZR need to pay close attention to the stock based on moves in the options market lately. The merger should close in the fourth quarter of 2020. Luminar emerged from the crowded startup field by offering lidar sensors at a lower price. The stock opened at around $25 and sank nearly 25% to close its first trading day at $18.69. Its stock is now … Luminar is a breakout autonomous vehicle sensor company that came out of stealth after five years in development. Innoviz Technologies Ltd., an Israeli lidar startup backed by two of the world’s largest automotive suppliers, is going public in a $1.4 billion reverse merger with Collective Growth Corp. Company profile page for Luminar Technologies Inc including stock price, company news, press releases, executives, board members, and contact information Luminar Technologies IPO Details On December 3, 2020, shareholders approved the deal. Currently, Thiel has a net worth of $2.1 billion. https://t.co/Dk5bR4pzza. Luminar has raised a total of $420M in funding over 7 rounds. Gores Metropoulos will pay $400 million in cash, which it raised in an IPO in November 2019. By teaming up with an SPAC, a startup can go public quicker without the scrutiny and risks associated with an IPO. Is Peugeot Coming Back to the North American Market? The company has a market value of $573 million. Luminar Technologies, Inc. (LAZR) latest earnings report: revenue, EPS, surprise, history, news and analysis. 12/08: LUMINAR TECHNOLOGIES, INC./DE: Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Unregistered Sale of Equity Securities, Material Modification to Rights of Security Holders, Changes in Registrant's Certifying … Following the IPO, Gores will change its name to Luminar Technologies … Under Russell’s leadership, Luminar has inked a deal to supply lidar units for Volvo vehicles and secured partnerships with Daimler Truck and Mobileye, Intel’s autonomous vehicle unit. Luminar IPO luminartech.com | Autonomous Technologies | Founded: 2015 | Funding to Date: $130,000,000 Luminar was founded in 2012 by Austin Russell and Jason Eichenholz. Luminar has continued to ink high-profile deals even in the pre-merger phase. Source. Although both companies’ boards have approved the deal, it’s still subject to regulatory and stockholder approvals as well as other closing conditions. Author: They buy a few million shares to create momentum, then sell the same shares short to create downward momentum which creates fear in retail. Russell is one of the first billionaires to emerge from the self-driving vehicle market. Benzinga's PreMarket Prep airs every morning from 8-9 a.m. … His wealth surged even higher on Friday with Luminar’s shares climbing nearly 37 percent to $31.40, leaving Russell with a paper net worth of nearly $3.3 billion heading into the weekend. Xpeng, which began trading Thursday on the New York Stock Exchange under the ticker symbol XPEV, said in a filing that it sold 99.7 million shares for … The company’s shares rose 10 percent to $11.60 per share, which is the highest jump since March 2019. Shares of LAZR stock will be available after Luminar Technologies and Gores Metropoulos completed their "business combination" on Thursday. Gores Metropoulos will pay $400 million in cash, which it raised in an IPO in November 2019. November jobs report shows slower-than-expected numbers, This story has been shared 4,131 times. … Luminar Technologies. Luminar Technologies Inc. LAZR, -5.92% shares rallied nearly 40% Friday, doubling in its two days as a public company following a merger with a blank-check company. In the last 12 months, LAZR had revenue of $17.32 million and -$2.19 million in losses. LUMINAR TECHNOLOGIES: Thinking about buying stock in Agios Pharmaceuticals, Clo.. 2020: LUMINAR TECHNOLOGIES: Deutsche Bank Starts Luminar Technologies at Buy With $37.. 2020: LUMINAR TECHNOLOGIES: Northland Upgrades Luminar Technologies to Outperform Fro.. 2020: SECTOR UPDATE: Technology Stocks Gain Premarket Wednesday ET. it does not seem to include any kind of premium that other SPAC stocks have had … While Russell said it can be hard for the market to value new technologies that lack existing market comps, he noted Luminar is working with … Athletic Company JD Sports Gets a U.S. It is trading at 348 times 2021 revenue, not earnings -- an absolutely absurd valuation. On Monday, Aug. 24, Luminar Technologies announced that it is going public through a $3.4 billion merger with Gores Metropoulos. ... cheaper route to going public and raising funds than a conventional IPO, and one that looks particularly appealing given the runup in major U.S. stock … Luminar stock can't quite make up its mind which direction it is heading.Since coming public in a reverse merger IPO through special purpose … The blank-check company’s stock closed at $10.85, up around 10% from its $10 March 2019 IPO price. Lidar stocks like Velodyne and Luminar Technologies rallied Tuesday on a report that Apple could make a self-driving car by 2024, while Ouster said it would go public via a blank-check company.. X Request Access. We've received your submission. At this point, GMHI stock is up just 5.5% from its IPO price of $10. We’ll walk through what you need to know about buying Luminar Technologies stocks from Canada. According to the U.S. Securities and Exchange Commission (SEC) filings, Russell will own about a … Sitemap John … Why Luminar Technologies' Stock Spiked Today. 2,387, This story has been shared 1,771 times. The Luminar IPO date may come as early as the end of the fourth quarter in 2020. Luminar is the latest buzzy company to go public by merging with a special purpose acquisition company, or SPAC, a publicly traded firm that’s set up solely to combine with another firm that takes over its stock listing. Luminar Technologies will likely be a winner, but LAZR stock is valued too high. Technology. Shares of Luminar Technologies (LAZR) surged as high as 39% today after going public through a reverse merger with SPAC Gores Metropoulos (NASDAQ:GMHI).The maker of … In addition to co-founding PayPal, Thiel was also an early investor in Facebook. Price Action: Shares of Collective Growth … Investors. What we know about the Luminar Technologies IPO. It enables autonomous driving. Find the latest Earnings Report Date for Luminar Technologies, Inc. Class A Common Stock (LAZR) at Nasdaq.com. Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. Free forex prices, toplists, indices and lots more. Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Gores Metropoulos, Inc. Income Statement. Luminar is the latest transportation company to go public via a "reverse merger" with a so-called "blank check" special acquisition company, or SPAC. We are making our next industry leap through our new long-term partnership with Gores Metropoulos, a team that has deep experience in technology and automotive and shares our vision of a safe autonomous future powered by Luminar.”. Luminar Technologies, Inc. is producing advanced sensor technologies for … “It is totally surreal and it totally makes sense and it is hard to explain the dichotomy of it, but this has always been the goal,” Russell told CNBC on Thursday. “We set up the company to be a long-term sustainable business and power the future of autonomy for all of these automakers.”. As Coinspeaker reported, the … GoDaddy Stock Looks Like a Buy Due to Digital Potential, U.K. Luminar Technologies operates as a vehicle sensor and software company for passenger vehicles and trucks. Updates. Data is currently not available. The sensors bounce lasers of objects to guide autonomous vehicles. Investors seek businesses with higher growth amid the COVID-19 pandemic. At the closing, the combined company will have an implied pro forma enterprise value of $2.9 billion and an equity value of $3.4 billion. That is because … The remaining $170 million will come from investors, including Thiel. Products. Foothold With Shoe Palace Acquisition. The company operates in two segments, Autonomy Solutions and Other Component Sales. Get today's Luminar Technologies stock price and latest LAZR news as well as Luminar Tech real-time stock quotes, technical analysis, full financials and more. pic.twitter.com/gEyJD7NFX0, According to Forbes, Russell said, “This milestone is pivotal not just for us, but also for the larger automotive industry. About Luminar Stock. LAZR Stock: Why Luminar Technologies Shares Are Driving Higher Wednesday Dec. 16, 2020 at 11:45 a.m. In a phone interview, Luminar CEO Austin Russell said, “By the time this is over, we will have brought in north of $500 million—that allows us to make these kinds of strategic investments and additionally accelerate our programs and timelines and customer adoption.”. Discover historical prices for LAZR stock on Yahoo Finance. Luminar Technologies, Inc. Class A (US:LAZR) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. After the deal closes, Luminar Technologies will trade on Nasdaq under the ticker “LAZR.”. 1h zacks.com - Investors in Luminar Technologies, Inc. (LAZR Quick QuoteLAZR - Free Report) need to pay close attention to the stock based on moves in the options market lately. Luminar and Gores Metropoulos, Inc., announce a merger that paves the way for Luminar to become a publicly listed company. EquityZen is a marketplace for shares of proven pre IPO tech companies . Post was not sent - check your email addresses! The company’s high-tech sensors will provide hands-free highway driving in select Volvo vehicles in 2022. Luminar is funded by 21 investors. We’ve seen the future of transportation. We're getting close to year's end, so keep your nose to the ground on … The Florida-based firm — which he founded when he was just 17 — makes so-called lidar scanners that use lasers to give autonomous cars a three-dimensional view of the road and what’s around them. Luminar Technologies (LAZR) stock price, charts, trades & the US's most popular discussion forums. Founder Russell, a Is the Options Market Predicting a Spike in Luminar (LAZR) Stock? Luminar and Gores Metropoulos Announce Closing of Business Combination Luminar Technologies, Inc. (“Luminar”), the global leader in automotive lidar hardware and software technology, and Gores Metropoulos, Inc. (“Gores Metropoulos”) (Nasdaq: GMHI, GMHIU and GMHIW), a special purpose acquisition company sponsored by an affiliate of The Gores Group, LLC and an affiliate December 4, 2020 | 9:10am | Updated December 4, 2020 | 5:35pm. Analysts have given the company’s stock an average 52-week price target of $37, forecast between a low of $30 and high of $41. So far in 2020, there has been a surge in automaker startups making “blank check” merger deals. Luminar Technologies Inc has agreed to go public through a $3.4 billion SPAC IPO merger with Gores Metropoulos Inc GMHI stock. The founder of a startup that helps cars drive themselves just became a billionaire — and he’s barely old enough to rent a car on his own. Careers. Luminar is going public sooner than expected. Luminar Technologies (NASDAQ: LAZR) revealed its plan to go for an IPO in August via a reverse merger with a special purpose acquisition company. 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All Rights Reserved, Apple sets 2024 deadline to build a self-driving electric car, Uber reportedly in talks to sell flying taxi division, Uber reportedly in talks to sell its autonomous vehicle business, Walmart partners with GM’s Cruise to test self-driving car deliveries, The cold reality of outdoor dining and takeout during a COVID-19 winter, Catsimatidis' Coney Island project could find sunnier home, The 21 best jigsaw puzzles for adults in 2021—and where to buy them, 11 small home gym ideas for 2021: The best equipment for small spaces, Spanx extra 30% off New Year's sale is something to celebrate, Bloomingdale's takes extra 50 percent off clearance items for Winter Break sale, 11 best joggers for women who want to get comfy in style for 2021, Hula hooper hits record with her hypnotic hiney, R. Kelly shares song 'Shut Up' from prison on 54th birthday. Luminar Technologies CEO Austin Russell, 25, secured a hefty fortune after his company’s stock market debut this week. Shares opened at $23.65 and gave the company a valuation of about $7 billion. IPO & Stock Price Luminar is registered under the ticker NASDAQ:LAZR. Innoviz Technologies Ltd., an Israeli lidar startup backed by two of the world’s largest automotive suppliers, is going public in a $1.4 billion reverse merger with Collective Growth Corp. Note: all dollar amounts on this page are in US dollars unless otherwise stated. What we know about the Luminar Technologies IPO. Thiel also co-founded Palantir, which is a CIA-backed big data company valued at $20 billion. 1,771, © 2021 NYP Holdings, Inc. All Rights Reserved In May 2020, Luminar signed a multiyear agreement with Volvo. Your California Privacy Rights Gores Metropoulos is a special purpose acquisition company (SPAC) affiliated with the Gores Group investment firm. Thanks for contacting us. Reminds Stockholders to Vote in Favor of the Business Combination With Luminar Technologies, Inc. Nov 24, 2020 Luminar Accelerates Commercial Momentum With … Their stock opened with $30.00 in its Dec 3, 2020 IPO. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. He left Stanford University as a teenager in 2012 to start Luminar with help from a fellowship sponsored by Peter Thiel, the Silicon Valley tycoon who’s also invested in Facebook and Palantir. Russell received a $100,000 fellowship from Thiel’s foundation in 2013 to build up the company. The remaining $170 million will come from investors, including Thiel. Luminar was bought in August by Gores Metropoulos Inc., backed by billionaires Alec Gores and Dean Metropoulos. Luminar Technologies Inc. LAZR, -5.92% shares rallied nearly 40% Friday, doubling in its two days as a public company following a merger with a … Privacy Notice At the closing, Luminar stockholders will get 271.8 million shares of Gore Metropoulos common stock. 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