Why Luminar Stock Is Soaring Today
Luminar (NASDAQ: LAZR) stock is seeing another day of big gains Tuesday. The company's share price was up 12.3% as of 12:15 p.m. ET despite the S 500 index being down 0.7% and the Nasdaq Composite index being down 1.5%. The lidar specialist's stock had been up as much as 22.6% earlier in the daily session.
Luminar is surging today following Nvidia (NASDAQ: NVDA) CEO Jensen Huang's keynote address at the Consumer Electronics Show (CES) last night. The tech luminary outlined new initiatives in the autonomous vehicle space and confirmed that his company will continue to use lidar technologies.
Luminar stock skyrocketed yesterday as investors bet that Huang would mention the lidar specialist or the technology in general during his CES keynote address. While Luminar didn't get a shoutout, Nvidia's leader indicated that lidar would be a key part of his company's strategy in the autonomous vehicle space. The mention has been enough to power significant gains for the smaller tech specialist's stock today.
Source Fool.com
