If there’s one technology driving the change in how we’ll get around in the next decade, it’s electric vehicles.
Yes, it’s new and revolutionary…
And those innovations are all well publicized, making it a lot harder for an unknown startup to come out of left field and completely change the game and minting new millionaires is a long shot.
By now, we pretty much know all the major movers and shakers… Tesla Inc. (Nasdaq: TSLA), Chinese names like XPeng Inc. (NYSE: XPEV) and Nio Inc. (NYSE: NIO)… and of course, big established automakers like Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM)…
But if there’s another technology in development now that’s getting ready to make an impact in this market, it’s automated vehicle tech — or what most folks call “driverless cars.”
We’ve already seen this technology start to trickle into the mainstream with Tesla’s autopilot feature. Meanwhile, Google parent company Alphabet Inc. (Nasdaq: GOOG) and Amazon.com Inc. (Nasdaq: AMZN) have invested billions into the technology over the past decade.
While there are different ways to get that same result, lidar technology is poised to be the missing puzzle piece for driverless cars, in turn becoming the next big EV trend.
See the Next Big EV Trend with a New Set of Eyes
Lidar is a remote sensing method that uses light in the form of a pulsed laser to measure distance. The sensor array bounces a laser off into several directions. The car knows how far away something is based on how long it takes the light to reflect back to the sensor.
It’s the technological successor to radar. But instead of radio waves, it uses light. Lidar sensors can allow a computer to “see” objects around a vehicle with a 360-degree field of view.
Of the half-dozen pure play lidar stocks, Luminar Technologies (Nasdaq: LAZR) is the largest company currently trading on U.S. exchanges.
The stock reported earnings on Aug. 12 with a $0.11 per-share loss from $6.3 million in sales, missing consensus estimates by $0.04.
In spite of the earnings miss and a weak chart, the underlying stock and its options are seeing bullish momentum with the rising interest in the next big EV trend.
It’s also worth noting that short-interest positions are over 10% of the float. Traders looking to roll the dice need to use proper position sizing to keep from getting caught off-guard by the volatility from all the meme stonk apes out there.
Check out the quick video below for my thoughts on LAZR and the next big EV trend as it hit the tape in Thursday’s Daily Profits Challenge War Room.
P.S. Former Air Force pilot and million-dollar investor Chuck Hughes is getting ready to disclose his brand-new trading discovery called “Omega One.”
He’s revealing it to a select group of traders, and guess what…
My viewers are invited!
Not only will he reveal this pricing anomaly that’s recently paid him 104 times out of 108 trades…
But he’s going to put $3.4 million on the line to help traders succeed with his new innovative formula!
