What's Going On With Luminar Technologies (LAZR) Stock?

Luminar Technologies Inc LAZR shares are trading higher by 10.5% to $6.93 during Friday's session after the company reported fourth-quarter results. 

What To Know: Luminar Technologies on Thursday reported fourth-quarter losses of $1.26 per share despite exceeding revenue expectations. The company also posted $22.48 million in revenue, surpassing analysts' $17.72 million estimate and slightly improving from $22.11 million a year ago.

CEO Austin Russell highlighted Luminar's milestone year with the launch of the Volvo EX90, the first global production vehicle incorporating its lidar technology alongside NVIDIA. 

Following a viral test by YouTuber Mark Rober comparing Tesla's Autopilot to Luminar's lidar, the company's stock surged, gaining around 37% over the trailing week.

What Else: Looking ahead, Luminar aims to triple lidar shipments in 2025 as more vehicles integrate its technology. 

The company is also consolidating its product portfolio around Luminar Halo, aiming for greater efficiency, accelerated execution, and continued expansion in the autonomous vehicle sector.

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How To Buy LAZR Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Luminar Technologies’ case, it is in the Consumer Discretionary sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, LAZR has a 52-week high of $34.80 and a 52-week low of $4.48.