Why Shares of Innoviz Technologies Are Soaring Today
Starting the week off on a strong note, shares of Innoviz Technologies (NASDAQ: INVZ), a leading lidar technology company, are driving higher this morning. Innoviz has secured a new customer in what is the company's largest deal to date, and investors' enthusiasm is racing higher.
As of 10:47 a.m. ET, shares of Innoviz Technologies have climbed 6.6%, falling from their earlier rise of 15.8%.
Refraining from identifying its new customer by name, Innoviz is keen on stating the new customer's prominent industry position: It is "one of the largest vehicle manufacturers in the world." Details remain scant, but Innoviz says that the vehicle manufacturer will use its lidar solutions in multiple brands in its product portfolio.
Source Fool.com
