Why Velodyne Lidar Stock Just Soared 10%
Shares of Velodyne Lidar (NASDAQ: VLDR), a specialist in the manufacture of light detection and ranging (lidar) sensors for drones and self-driving cars -- and a late-2020 SPAC IPO -- exploded higher in early trading on the Nasdaq today.
As of 10:10 a.m. EST, Velodyne Lidar stock is up 10.6%, responding to Velodyne's announcement this morning that it has signed a "multi-year sales agreement" with an Australian company called Emesent, which Velodyne describes as "a world-leader in drone autonomy, lidar mapping and data analytics."
Image source: Getty Images.
Source Fool.com
