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Why Luminar Technologies Stock Is Up Today

TheMotleyFool

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Why Luminar Technologies Stock Is Up TodayPhoto, wide shot, wide-angle lens, soft focus, Car manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://oaidalleapiprodscus.blob.core.windows.net/private/org-IbuNdCATsFaPOITjFOv2kJh3/user-AXaxqjBUW45D8BadJEo9mUpW/img-YEvJ4lsD0cnHYMSisqF0KmhC.png?st=2023-12-29T13%3A52%3A04Z&se=2023-12-29T15%3A52%3A04Z&sp=r&sv=2021-08-06&sr=b&rscd=inline&rsct=image/png&skoid=6aaadede-4fb3-4698-a8f6-684d7786b067&sktid=a48cca56-e6da-484e-a814-9c849652bcb3&skt=2023-12-29T03%3A19%3A21Z&ske=2023-12-30T03%3A19%3A21Z&sks=b&skv=2021-08-06&sig=cgEmp8qYLk6LiC9uwJEp9XOt32ky3AObpdzG41upqzc%3D

Shares of Luminar Technologies (NASDAQ: LAZR) climbed more than 10% on Monday after the automotive technology company announced a new partnership that could dramatically expand its end-market opportunity.

Luminar is best known as a supplier to automakers. The company specializes in lidar systems. Lidar is short for light detection and ranging tools, which are used to help autonomous vehicles measure distance and better navigate the world around them.

Image source: Getty Images.

Source Fool.com

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