Former NASA scientist Mark Rober recently showcased a car equipped with Luminar's (LAZR, Financial) lidar technology on his YouTube channel, comparing it favorably to Tesla's (TSLA) Autopilot. This demonstration led to Luminar's stock price surging by 27.13% to $6.42. The video, uploaded on March 15, has garnered over 11 million views, highlighting the lidar system's superiority over Tesla's camera-based navigation.
Luminar's stock experienced its most significant rise in over two months, while Tesla's shares fell by 4.8%, underperforming the S&P 500 and Nasdaq 100 indices. Rober, who has a YouTube following of over 65 million subscribers, clarified that although Luminar provided the vehicle for testing, he did not receive any financial compensation, and the video was not a paid promotion. Luminar shared the video link on its social media accounts on March 15.
Lidar, short for light detection and ranging, is a sensor technology that uses laser pulses to measure the time it takes for them to reflect off objects and return. This data helps calculate distances and create 3D maps of the surrounding area.
Despite the recent surge, Luminar's stock remains approximately 80% below its peak from July last year. The company is set to release its fourth-quarter earnings after the market closes on March 20.
