Should You Buy Luminar Technologies Stock While It's Below $11?

Imagine a future where self-driving cars solve day-to-day issues like long commutes, traffic jams, and roadway dangers. Before that future can become a reality, companies need to build systems that will allow self-driving vehicles to fully operate. At the heart of many of those systems are vision-based light detection and ranging (lidar) sensors that provide a comprehensive 360-degree map of their environment. The technology could play a crucial role in developing safe and reliable self-driving cars capable of accurately identifying and locating the objects around them.Luminar Technologies (NASDAQ: LAZR) is developing such a technology, and it could help reshape the automotive industry if it's successful. Company management projects that its market opportunity could be a staggering $150 billion annually. However, based on Luminar's stock price steadily declining since the company's IPO in December 2020, there is reason to believe investors aren't yet convinced the company will fulfill its potential.With the stock currently trading below $11 per share (down about 99% from its all-time high in late 2020), should more investors take this opportunity to buy into what Luminar is selling?Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool