Why Luminar Technologies Stock Just Popped 12%

Rich Smith, The Motley Fool
·2-min read
Why Luminar Technologies Stock Just Popped 12%

Shares of Luminar Technologies (NASDAQ: LAZR), which makes lidar technology for self-driving cars, are on a tear Wednesday afternoon, rising more than 12% through 1:20 p.m. EST. Curiously, though, the catalyst for this stock move appears to have happened nearly a week ago. Last Thursday, investment bank R.F. Lafferty initiated coverage of Luminar stock with a buy rating and a $38 price target.