Luminar Is Overhyped: These Self-Driving Car Stocks Are Better Buys Right Now
It has been a banner year for stocks of companies that want to disrupt the automotive industry, and Luminar Technologies (NASDAQ: LAZR) is the latest to ride the wave.
Luminar is a maker of lidar, a technology that uses pulsed laser beams to measure distances that are used in most self-driving concepts. The company went public on Dec. 3 through a reverse merger and the stock almost immediately doubled in value.
Investors are excited about the potential of the technology to help make robocars a reality. Alas the lidar market is getting somewhat crowded, and Luminar has a lot to prove in the quarters ahead to justify those sorts of gains.
Source Fool.com
