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<ul class="summary-list"><li>Bank of America initiated coverage of <keyword id="4413151" type="PERSON" weightage="60" keywordseo="Luminar-Technologies">Luminar Technologies</keyword> with a "neutral" rating and $23 price target. </li><li>That's a roughly 40% gain from current levels, though BofA noted Luminar's distant production start-date is a risk to the stock.</li><li>Luminar Technologies uses laser sensors, called lidar, that enable autonomous driving.</li></ul><a href="https://markets.businessinsider.com/stocks/lazr-stock?utm_source=markets&amp;utm_medium=ingestgest">Luminar Technologies</a> appears to be a leader in next-generation commercial lidar technology as evidenced by its automotive partnerships, according to Bank of America.On Tuesday a team of analysts led by Aileen Smith initiated coverage of the autonomous vehicle technology company with a "neutral" rating and $23 price target, a roughly 40% gain from current levels. Luminar Technologies uses <a href="https://www.businessinsider.com/luminar-elon-musk-austin-russell-lidar-volvo-cars-2020-10?utm_source=markets&amp;utm_medium=ingestgest">laser sensors, called lidar, that enable autonomous driving</a>. Luminar's stock price soared 110% to over $47 in the first three days following its public debut back in December, but has fallen significantly since then. However, BofA sees upside for Luminar in the next 12 months, especially because of the company's promising partnerships with major auto companies.Luminar currently has series production contracts on passenger vehicles with Volvo and SAIC, a strategic agreement on trucking/logistics with Daimler Truck/Torc, and a sales agreement for LIDAR into robo-taxi AV solutions with Mobileye, the analysts noted. BofA said Luminar's commercial partnerships could give it a competitive advantage in the rapidly-growing lidar market, but added that the future successes for Luminar are somewhat unclear, as the company doesn't plan to start production until the end of next year."...with start of production not slated to commence until end of 2022, proof points of commercialization for LAZR's technology beyond cited production contract wins and its forward looking order book are relatively limited," the analysts said. The analysts added that an important driver of Luminar's stock will be bookings of production contracts and order book estimates. The lidar company has said it plans to score at least three additional commercial program wins and grow its forward order book by 40%+ in 2021, according to BofA.

Luminar's stock could gain 40% as it racks up partnerships for its autonomous vehicle lidar technology, BofA says

<ul><li><keyword id="4413151" type="PERSON" weightage="60" keywordseo="Luminar-Technologies">Luminar Technologies</keyword> soared as much as 21% on Wednesday after it hired the former general counsel of <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword>.</li><li>Alan Prescott will join the self-driving car company as its chief legal officer, Luminar said.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestmp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/lazr-stock">Luminar Technologies</a> soared as much as 21% on Wednesday after <a href="https://www.businesswire.com/news/home/20210421005756/en/Tesla-and-Intel-Industry-Executives-Join-Luminar">it hired Alan Prescott,</a> the former general counsel of Tesla, as its chief legal officer.Alan Prescott will join Luminar directly from Tesla, and will be responsible for directing all legal operations at the company. Prior to Tesla, Prescott let Uber's Advanced Technology legal team.Having a strong legal team will be essential at self-driving startup companies, especially given that car crashes that have occurred while self-driving technology was in use have attracted intense scrutiny.A <a href="https://www.businessinsider.com/tesla-crash-without-driver-kills-two-houston-2021-4">Tesla car crash earlier this week</a> is thought to have occurred with the company's self-driving autopilot technology engaged, as authorities said it appeared neither of the two passengers were driving the car at the time of the deadly crash.But <a href="https://www.businessinsider.com/tesla-crash-first-victim-named-autopilot-debate-continues-2021-4">Tesla's Elon Musk refuted those claims on Twitter,</a> saying that the company's data logs show the car's Autopilot technology was not turned on.Despite Wednesday's surge in Luminar, the company is still down 38% year-to-date. The company went public via a SPAC merger late last year, <a href="https://markets.businessinsider.com/news/stocks/spac-issuance-collapse-deals-ipos-stocks-market-bespoke-investment-2021-4-1030329263">but that trend has cooled down in April</a> as investors take a harder look at the companies going public via "blank-check" mergers. <div type="image" title="lazr chart.JPG" height="569" width="664" msid="82186076" hostid="261"></div>

Luminar Technologies jumps 21% after it hires Tesla's general counsel as chief legal officer

<ul><li>Shares of <keyword id="4413151" type="PERSON" weightage="60" keywordseo="Luminar-Technologies">Luminar Technologies</keyword> jumped as much as 25% on Monday, extending a three day gain of over 110% that began after the company went public via <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> on Thursday. </li><li>The autonomous vehicle start-up uses laser sensors, called <keyword id="1522310" type="ORGANIZATION" weightage="60" keywordseo="LiDAR">lidar</keyword>, that enable cars to drive themselves. Elon Musk criticized the technology, saying "Anyone relying on lidar is doomed," in 2019.</li><li><keyword id="3926618" type="COMPANY" weightage="60" keywordseo="Luminar">Luminar</keyword> went public through a reverse merger with SPAC Gores Metropoulos. Shares traded above $37 on Monday afternoon.</li><li><a href="https://markets.businessinsider.com/stocks/lazr-stock">Watch Luminar trade live here</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/lazr-stock">Shares of Luminar Technologies</a> 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 <a href="https://www.businessinsider.com/luminar-elon-musk-austin-russell-lidar-volvo-cars-2020-10">laser sensors, called lidar, that enable autonomous driving</a>. 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 <a href="https://www.businessinsider.com/tesla-autonomy-investor-day-live-updates-event-details-elon-musk-self-driving-2019-4">Tesla's 2019 Autonomy Day. </a> In May, Luminar announced an agreement with Volvo to include its Iris lidar sensors in certain Volvo cars beginning in 2022. Read more: <a href="https://www.businessinsider.com/luminar-elon-musk-austin-russell-lidar-volvo-cars-2020-10">The world's youngest self-made billionaire is proving Elon Musk wrong by bringing lidar - and self-driving savvy - to the mass car market</a>Luminar <a href="https://www.businesswire.com/news/home/20201202005741/en/Luminar-and-Gores-Metropoulos-Announce-Closing-of-Business-Combination">went public through a reverse merger</a> 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 <a href="https://www.businessinsider.com/luminar-ceo-deals-with-100-hour-weeks-walking-phone-calls-2020-9">25-year-old Luminar CEO Austin Russell</a> to become one of the world's youngest <keyword id="2231588" type="PERSON" weightage="60" keywordseo="self-made-billionaires">self-made billionaires</keyword>, according to <a href="https://www.forbes.com/sites/alanohnsman/2020/12/03/meet-the-worlds-newest-and-youngest-self-made-billionaire-luminars-austin-russell/?sh=5cdfa186123b">Forbes.</a>

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

The world's youngest self-made billionaire hopes to power every future self-driving car with a technology that Elon Musk says is 'doomed'

Happy Friday, readers! I'm your host, Jordan Parker Erb, and today I'm helping break down why <a href="https://www.businessinsider.com/recession-outlook-tech-stock-market-crash-us-economy-meltdown-gdp-2022-5">we probably won't see a true recession</a> anytime soon — despite stormy skies in the <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">tech</keyword> industry.Shall we?Launching Monday: Our weekday <keyword id="11894123" type="UNKNOWN" weightage="60" keywordseo="newsletter" source="Orion">newsletter</keyword> <a href="https://newsletter.businessinsider.com/click/27916928.115375/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9zdWJzY3JpcHRpb24vbmV3c2xldHRlci8xMC10aGluZ3Mtb24td2FsbC1zdHJlZXQ_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD0xMF90aGluZ3NfdGVjaA/6036a9b4a86c5033515e02e3Bd26488fe">10 Things on Wall Street</a> will take you inside the finance industry, from the latest in banking and fintech to the power players leading the biggest deals on the Street, Silicon Valley, and elsewhere. <a href="https://newsletter.businessinsider.com/click/27916928.115375/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9zdWJzY3JpcHRpb24vbmV3c2xldHRlci8xMC10aGluZ3Mtb24td2FsbC1zdHJlZXQ_bnJfZW1haWxfcmVmZXJlcj0xJnV0bV9zb3VyY2U9U2FpbHRocnUmdXRtX21lZGl1bT1lbWFpbCZ1dG1fY29udGVudD0xMF90aGluZ3NfdGVjaA/6036a9b4a86c5033515e02e3Cd26488fe">Sign up here</a>.If this was forwarded to you, <a href="https://newsletter.businessinsider.com/click/27645591.160803/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9zdWJzY3JpcHRpb24vbmV3c2xldHRlci8xMC10aGluZ3Mtb3BlbmluZy1iZWxsP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Be824e273">sign up here</a>. Download Insider's app <a href="https://link.insider.com/click/27645591.160803/aHR0cHM6Ly93d3cuaW5zaWRlci5jb20vYXBwP25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9T3BlbmluZ19iZWxs/62667762063d6b9bef0cffb3Bf9c9aa56">here.</a><a href="https://www.businessinsider.com/recession-outlook-tech-stock-market-crash-us-economy-meltdown-gdp-2022-5"></a>1. The likelihood of a true recession seems low. The tech industry is dealing with layoffs and stock crashes, and execs are warning about a recession — but the economy is <a href="https://www.businessinsider.com/recession-outlook-tech-stock-market-crash-us-economy-meltdown-gdp-2022-5">actually doing just fine</a>, Neil Dutta writes. He explains: <ul><li>Despite stumbles in the industry, the biggest driver of the economy — average Americans' consumption — continues to expand at a solid pace. Tech isn't the whole economy, after all.</li><li>Americans spent the pandemic loading up on goods, and now they're not. But that doesn't mean consumers are suddenly spending a great deal less overall; they're just shifting where they spend.</li><li>Instead of spending on big-ticket items like washing machines, couches, and laptops, they're going out to restaurants, heading to the movies, and taking to the skies. </li></ul><a href="https://www.businessinsider.com/recession-outlook-tech-stock-market-crash-us-economy-meltdown-gdp-2022-5">Why he says we shouldn't be fearing a recession.</a>In other news:<a href="https://www.businessinsider.com/best-career-advice-from-business-execs-ceos-2022-graduation-speeches-2022-5"></a><div type="image" title="Tim Cook at Gallaudet University commencement" height="4480" width="5973" msid="91986098" hostid="261"></div>2. We rounded up tech leaders' best career advice for college grads. The CEOs of Apple, Snap, and other tech giants spoke at this year's commencement ceremonies, urging students to lead with their values and focus on building relationships. <a href="https://www.businessinsider.com/best-career-advice-from-business-execs-ceos-2022-graduation-speeches-2022-5">Read their other tips</a>.3. Bolt's CEO fielded questions from employees a week after layoffs rocked the fintech. Screenshots viewed by Insider show employees probing Maju Kuruvilla about the firm's lay-off strategy in a company-wide "ask me anything" meeting. <a href="https://www.businessinsider.com/bolt-layoffs-fintech-startup-ceo-fields-questions-ama-meeting-2022-6">What we learned from the screenshots</a>. 4. Each month, forgotten subscriptions cost consumers more than they realize. Subscriptions for that app or delivery service you forgot about could be cutting away at your savings: A new study found that on average, overlooked subscriptions are costing users about $133 each month. <a href="https://www.businessinsider.com/subscription-services-forgotten-cost-consumers-payments-2022-6">Here's what the study found</a>.5. Check out Facebook's new executive structure as Sheryl Sandberg exits. Her exit is prompting broader changes — and her successor Javier Olivan will have almost twice as many direct reports as Sandberg had in the same role. <a href="https://www.businessinsider.com/sheryl-sandbergs-exit-from-facebook-prompts-reorganization-for-successor-javier-olivan-2022-6">See our chart here.</a>6. Coinbase said it was withdrawing some job offers and freezing hiring indefinitely. The company sent emails to alert the affected candidates, which one recipient slammed as "unprofessional." <a href="https://www.businessinsider.com/read-email-coinbase-sent-en-masse-to-withdraw-job-offers-2022-6">Read the full text of the letter Coinbase reportedly sent.</a>7. Even amid the tech slowdown, these eight companies are still hiring. We spoke with talent leaders from companies like Adobe and PayPal, who shared what opportunities are still available —<a href="https://www.businessinsider.com/tech-companies-still-hiring-engineers-tech-slowdown-2022-5"> and insider tactics for getting hired</a>.8. Elon Musk wants to cut 10% of Tesla jobs. Per Reuters, Musk told Tesla executives to pause all hiring worldwide because he has a "super bad feeling" about the economy. <a href="https://www.businessinsider.com/elon-musk-10-percent-cut-tesla-jobs-bad-feeling-economy-2022-6">More from the report here.</a>Odds and ends:<a href="https://www.businessinsider.com/buick-electric-car-wildcat-ev-concept-aromatherapy-massaging-seats-2022-6"></a><div type="image" title="Buick Wildcat electric concept car." height="1733" width="2311" msid="91986102" hostid="261"></div>9. Buick revealed an electric concept car with some wild features. The concept car, dubbed the Wildcat, combats road rage — if it senses an elevated heart rate, it will dim the lights, switch on massaging seats, and deploy its integrated aromatherapy functions. <a href="https://www.businessinsider.com/buick-electric-car-wildcat-ev-concept-aromatherapy-massaging-seats-2022-6">Check out the car here</a>.10. You can get Apple's basic AirPods for just $100 right now. The second-generation AirPods are just $99.99 now from Amazon, Walmart, and Target, $20 off their usual price. A better deal isn't expected until Amazon Prime Day — <a href="https://www.businessinsider.com/guides/tech/best-apple-airpods-deals-before-amazon-prime-day">here's what you need to know</a>.The latest people moves in tech:<ul><li>Ghost-kitchen startup Reef Technology <a href="https://www.businessinsider.com/reef-technology-president-michael-beacham-ghost-kitchen-startup-2022-6">quietly ousted a key exec</a>.</li><li>Meta's VP of AI, Jerome Pesenti, will leave the company <a href="https://www.axios.com/2022/06/02/meta-facebook-ai-decentralize">later this month</a>.</li><li>Bernard Kim became <a href="https://www.cnbc.com/2022/05/03/match-group-names-bernard-kim-as-ceo-replacing-shar-dubey.html">Match Group's CEO</a>, succeeding Shar Dubey.</li><li>Christoph Aeschlimann is Swisscom's <a href="https://www.reuters.com/business/media-telecom/swisscom-names-aeschlimann-ceo-one-offs-swell-2021-net-profit-2022-02-03/">new CEO</a>.</li><li>Variety reported that <a href="https://variety.com/2022/tv/news/jonathan-bing-exits-netflix-communications-vice-media-group-1235282908/#recipient_hashed=5f583d22068dd755f6f7a2bf11a9210835cb86168631b6352c5454049ffd9d5a">Jonathan Bing has exited Netflix</a> to lead communications at Vice Media Group.</li><li>After less than a year, Christopher "CJ" Moore <a href="https://www.bloomberg.com/news/articles/2022-05-25/apple-car-director-moore-heads-to-luminar-after-less-than-a-year?cmpid=BBD052922_POWERON&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220529&amp;utm_campaign=poweron">has left Apple's car project for Luminar</a>, according to Bloomberg. </li><li>Warner Bros. chairman Toby Emmerich <a href="https://www.businessinsider.com/warner-bros-chairman-to-step-down-following-discovery-merger-2022-6">will exit the company</a>.</li></ul>Keep updated with the latest tech news throughout your day by checking out<a href="https://link.chtbl.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb?lang=en">@jordanparkererb</a>.)

You Searched For "luminar stock price" and got 5 results

Luminar's stock could gain 40% as it racks up partnerships for its autonomous vehicle lidar technology, BofA says

Emily Graffeo

Luminar Technologies jumps 21% after it hires Tesla's general counsel as chief legal officer

Matthew Fox

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

Emily Graffeo

The world's youngest self-made billionaire hopes to power every future self-driving car with a technology that Elon Musk says is 'doomed'

Hillary Hoffower

Tech: The economy might just be fine

Jordan Parker Erb

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