Luminar Technologies Stock Continues To Surge: What's Going On?
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Zinger Key Points
  • Former NASA engineer and YouTuber Mark Rober tests Luminar's lidar technology in his latest video.
  • The Luminar-equipped vehicle stops each time despite facing a series of simulated road conditions designed to trick the lidar system.

Luminar Technologies Inc LAZR shares are trading higher on Tuesday. The stock appears to be continued momentum after the company’s lidar technology was featured in a video from a prominent YouTuber.

What Happened: In his latest video, former NASA engineer and YouTuber Mark Rober put Luminar’s lidar technology up against Tesla Inc’s TSLA Autopilot system.

The "Can You Fool A Self Driving Car?" video already has more than 13 million views and showcases lidar’s superior detection ability compared to traditional cameras.

Rober performed six road tests designed to show the difference between what a computer sees and what lidar detects in varying conditions.

Luminar's lidar technology passed all tests, but Tesla's Autopilot system failed to detect objects in heavy fog and in a simulated downpour. Tesla's Autopilot also failed the "Wile E Coyote" wall test, but the video is getting backlash for being misleading.

Check This Out: Charlie Munger Called Elon Musk a ‘Certified Genius’ Who Exaggerates His IQ—But Warned: ‘Never Underestimate the Man Who Overestimates Himself’

Rober didn’t actually test Tesla's latest Full Self-Driving system, or any self-driving system for that matter. He tested Tesla's Autopilot system, which is an older driver-assistance tool for highways, similar to some cruise control systems.

Although it’s not a fair comparison, the results showed Luminar’s lidar technology successfully brought the vehicle to a stop despite facing a series of simulated road conditions designed to trick the system. Luminar shares closed Monday up approximately 27%, according to Benzinga Pro.

LAZR Price Action: Luminar shares were up 8.26% at $6.95 Tuesday morning. Despite the recent surge, Luminar shares are still down more than 70% over the past year, according to Benzinga Pro.

Photo: courtesy of Luminar Technologies.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...