Yet, a consistent positive track record that demonstrates the viability of Luminar’s technology is still lacking, which is especially important under the current macro environment in order to restore investors’ confidence in the company’s long-term growth outlook. The headwinds have together amplified pains for Luminar’s market performance this year, with little respite in sight.Īs one of the leading LIDAR developers in the industry, with its technology designed for a wide range of applications from passenger vehicles to commercial trucks, Luminar remains well-positioned for significant growth opportunities in the long-run from a fundamental perspective. Meanwhile, companies that have gone public over the last two years through a reverse SPAC merger, like Luminar, are also facing increasing regulatory scrutiny, which has further deterred investors’ confidence. The dire macroeconomic outlook, clouded by record inflation and tightening monetary policies that risk an imminent recession have caused investors to shun growth stocks, given their real returns are the furthest out. Now trading at just a little more than $7.50 apiece, the stock has plunged more than 50% on a year-to-date basis, underperforming the broader market amidst a risk-off environment for equities, although still not as bad as others within its peer group ( VLDR : -70%+ YTD OUST : -60%+ YTD).
More than 80% of Luminar’s ( NASDAQ: LAZR) market value has evaporated since it peaked above $40 per share following the merger with Gores Metropoulos SPAC in December 2020. JHVEPhoto/iStock Editorial via Getty Images
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