Hyperdrive
Velodyne Lidar Chief Eyes Growth as Stock Sinks in Public Debut
- Broader self-driving car commercialization is coming, CEO says
- Shares fall as much as 19% during first trading session
This article is for subscribers only.
Velodyne Lidar Inc. could ride higher as the self-driving car revolution takes hold -- that is if such modes of transport come to realization sooner rather than later.
The maker of sensors used in Advanced Driver Assistance Systems (ADAS), self-driving cars and trucks is projected to see robust revenue growth and hit full-year profitability as soon as 2022, according to Chief Executive Officer Anand Gopalan.