Luminar Stock Price Today: LAZR Stock Rockets Higher
- Shares of LiDAR maker Luminar (NASDAQ:LAZR) soared Monday, with LAZR stock popping 15% on news the company will work with aerospace manufacturer Airbus (OTCMKTS:EADSY) to develop a suite of autonomous flying technologies.
Why LAZR Stock Is Up Today
- Airbus is the world’s largest aerospace manufacturer. They make everything from planes, to jets, to helicopters, to drones. If it flies, Airbus probably makes a version of it.
- The bull thesis on LAZR stock — and the sole focus of the entire LiDAR industry — has been on self-driving cars. That is, Luminar is supposed to be making a LiDAR sensor which will be help cars drive themselves.
- There has been little to no talk of applying Luminar’s LiDAR sensors to other industries.
- The Airbus partnership shows that Luminar’s technology has much broader appeal beyond self-driving cars, and could be used in the aviation industry, too.
Why It Matters for Luminar Stock Holders
- This is a massive deal for LAZR stock.
- Luminar is not just a self-driving company. It’s an automation company.
- The technology Luminar has developed — a world-class LiDAR — can be used to power autonomy in all transportation vehicles, from cars, to planes, to helicopters, to ships.
- Longer-term, LiDAR sensors could be used to power robots, such as robotic firefighters, “robocops,” robotic waiters and more.
- In this sense, Luminar is a building a technology that could one day power the automation economy.
- Luminar’s sensors may be everywhere by 2030.
LAZR Stock Price Forecast
- At its current levels, LAZR stock is dramatically undervalued relative to the company’s long-term growth potential.
- As a leading self-driving technology company, Luminar is worth at least $50 per share today.
- But as a leading technology provider for the entire automation economy, Luminar could be worth much, much more than $50 per share.
- Long-term, we see LAZR stock as one of the market’s biggest winners.
Luminar represents a new class of technology companies that is developing breakthrough automation technology to fundamentally change the world. Like it or not, we are sprinted headfirst into an “automated everything” society, and the companies which build the tools to power this automation will one day be worth hundreds of billions of dollars.
Luminar is one of those companies. But it’s far from the only company in this “AI Revolution.”
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On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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