Luminar Technologies More Than Doubles Post SPAC Merger

Peter Thiel-backed Luminar Technologies Inc. briefly touched an all-time high within days of emerging as a standalone company as investor excitement over developers of laser-sensors that enable autonomous driving (lidar) ramped up.

Shares of Luminar more than doubled since it completed its reverse merger with special purpose acquisition company last week, trading above $38 Monday afternoon. Luminar warrants also hit a high, rising more than 200% over the same time, to more than $15.

Velodyne Lidar jumped 16.5% Monday on more than 2.5x average daily, three-month volume.

Luminar Technologies shares and warrants rallied to all-time highs on Monday

Meanwhile, SPACs are bringing more lidar plays to market. Bruce Linton’s SPAC Collective Growth Corp. is said to be in talks with , as Bloomberg first reported last week. And InterPrivate Acquisition Corp. tapped Mountain , California-based lidar company Aeva in early November. Both SPACs also gained on Monday.

Source: Bloomberg – Luminar Technologies More Than Doubles Post SPAC Merger