Why Shares of Innoviz Technologies Are Racing Higher Today

The S&P 500 is rising today, but shares of Innoviz Technologies (NASDAQ: INVZ) are leaving them in the dust. The lidar specialist reported second-quarter 2022 earnings today, and investors seem to be so impressed that they're choosing to park the stock in their portfolios.

As of 10:18 a.m. ET, shares of Innoviz are up 7.9%, having fallen slightly from their earlier climb of 10.9%.

Reporting revenue of $1.8 million, Innoviz grew the top line 80% over the $1 million in sales that it recorded during the same period last year. Impressive as its sales growth may be, however, it's more likely that investors are celebrating the company's road ahead and not what they see in the rearview mirror.

Source Fool.com