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Why Luminar Technologies Stock Jumped This Morning

TheMotleyFool

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Why Luminar Technologies Stock Jumped This MorningPhoto, wide shot, wide-angle lens, Cloud computing provider, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/8d7b6619-8b3b-4e9e-b659-68643d72528e.png

Shares of lidar-sensor maker Luminar Technologies (NASDAQ: LAZR) were on the rebound on Wednesday morning, trading higher after it clarified the details of its deal to sell lidar units and software to Intel (NASDAQ: INTC) subsidiary Mobileye.

As of 10 a.m. EST, Luminar's shares were up about 10.3% from Monday's closing price.

Luminar's stock price got clobbered on Tuesday after Reuters reported that the CEO fo Mobileye, a key Luminar client, said that his company might develop its own lidar units in-house.

Source Fool.com

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