An autonomous-vehicle company that uses technology Elon Musk said is 'doomed' went public via SPAC and is up over 110% in 3 days

• Shares of Luminar Technologies jumped as much as 25% on Monday, extending a three day gain of over 110% that began after the company went public via SPAC on Thursday.
• The autonomous vehicle start-up uses laser sensors, called lidar, that enable cars to drive themselves. Elon Musk criticized the technology, saying "Anyone relying on lidar is doomed," in 2019.
• Luminar went public through a reverse merger with SPAC Gores Metropoulos. Shares traded above $37 on Monday afternoon.
• Watch Luminar trade live here.

Shares of Luminar Technologies jumped as much as 25% on Monday, extending a three-day gain of over 110% that began after the company went public via SPAC on Thursday.

Luminar Technologies uses laser sensors, called lidar, that enable autonomous driving. For years, Tesla CEO Elon Musk has criticized lidar sensors, saying they're too expensive for consumer cars. "Anyone relying on lidar is doomed," said Musk at Tesla's 2019 Autonomy Day.

In May, Luminar announced an agreement with Volvo to include its Iris lidar sensors in certain Volvo cars beginning in 2022.

Read more: The world's youngest self-made billionaire is proving Elon Musk wrong by bringing lidar - and self-driving savvy - to the mass car market

Luminar went public through a reverse merger with special purpose acquisition company Gores Metropoulos. The combined company now trades on the Nasdaq under a new ticker symbol "LAZR." Shares traded above $37 Monday afternoon.

The SPAC debut propelled 25-year-old Luminar CEO Austin Russell to become one of the world's youngest self-made billionaires, according to Forbes.