Luminar CEO Austin Russell is leading the charge, saying: Also, several board members are planning to buy LAZR stock. The big news pushing LAZR stock higher is that the company plans to buy more stock. Keep reading to learn why Luminar is trending and what to expect next. Having said that, LAZR stock looks to finally be breaking out of its downtrend with solid momentum going into 2022. For this reason, investing in a supplier like Luminar might present a better long-term opportunity. Yet EV stocks are also taking a hit this year with competition creeping in. The initial hype pushed share prices over 190% within a few months to reach ATH’s.Īt the same time, growth stocks are having a rough year, with 2020 leaders such as ARK Innovation ETF (NYSE: ARKK) down 25%.Įven more, the auto industry is moving swiftly as electric vehicles gain market share. With this in mind, LAZR stock went public over a year ago via SPAC. Luminar Technologies (Nasdaq: LAZR) is a leader in lidar autonomous driving. But share prices are spiking on company plans to increase buybacks to over $300 million. LAZR stock is down over 55% from its high of $40.98 per share earlier this year.
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