Hyperdrive
Luminar Technologies More Than Doubles Post SPAC Merger
- Lidar developer shares more than doubled over three days
- Associated warrants also touched new highs following debut
This article is for subscribers only.
Peter Thiel-backed Luminar Technologies Inc. briefly touched an all-time high within days of emerging as a standalone company as investor excitement over developers of laser-sensors that enable autonomous driving (lidar) ramped up.
Shares of Luminar more than doubled since it completed its reverse merger with special purpose acquisition company Gores Metropoulos last week, trading above $38 Monday afternoon. Luminar warrants also hit a high, rising more than 200% over the same time, to more than $15.