Luminar Technologies Stock: Buy, Sell, or Hold?

Luminar Technologies (NASDAQ: LAZR), a developer of commercial automotive lidars, went public by merging with a special purpose acquisition company (SPAC) four years ago. The combined company's shares opened at $354.75 on the first day, soared to a record high of $627 just five days later, but now trade at about $6.Luminar's stock initially skyrocketed as it dazzled investors with its long-term forecasts. The buying frenzy in meme stocks -- which was driven by the pandemic, stimulus checks, commission-free trading platforms, and low rates -- amplified those gains.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool