AEyer shares are trading lower after representatives of Continental informed the company that it intends to discontinue the parties' joint lidar development program, which includes further development of the HRL131 lidar product line.
Portfolio Pulse from Benzinga Newsdesk
AEye Inc. (LIDR) stock is trading lower following Continental's decision to end their joint lidar development program, including the HRL131 lidar product line.
December 19, 2023 | 5:06 pm
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AEye Inc.'s stock price is expected to face downward pressure in the short term due to Continental's termination of the joint lidar development program.
The discontinuation of the joint lidar development program with Continental is a significant negative development for AEye Inc., as it directly impacts one of their product lines and potential future revenues. The news is likely to be taken negatively by investors, leading to a decrease in stock price in the short term.
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IMPORTANCE 85
RELEVANCE 100