Why Luminar Stock Is Rising Today
Portfolio Pulse from Ryan Gustafson
Luminar Technologies (NASDAQ:LAZR) shares are up after announcing a partnership with Plus, a provider of automated driving solutions. Luminar will provide mid- to long-range lidar for PlusDrive, Plus's assisted driving system for commercial vehicles, while Plus will be the exclusive provider of AI-based enhanced driver assist software for Luminar's commercial vehicle OEMs.
June 06, 2023 | 6:21 pm
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Luminar Technologies partners with Plus for LiDAR and AI-based assisted driving software for trucking, boosting LAZR shares.
The partnership with Plus expands Luminar's market reach and strengthens its position in the trucking industry. This collaboration is expected to enhance safety and autonomous capabilities for commercial vehicles, which could lead to increased demand for Luminar's products and services, positively impacting its stock price in the short term.
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