![]() Left also highlighted the wealth of Russell, one of the youngest billionaires in 2022 according to Forbes. Velodyne Lidar VLDR has a market capitalization of $181 million. ![]() Innoviz has a market capitalization of $539 million. Luminar’s market capitalization is $1.6 billion at the time of writing. You know what I am saying! I am long Innoviz and short Luminar.” “Look at Luminar’s market cap and compare it to Innoviz’s and Velodyne’s market caps. “No, Google has the best mapping system,” Left said, explaining Citron Research is short shares of Luminar and is long shares of Innoviz Technologies INVZ, a competing lidar company. Left also criticized comments about Luminar’s mapping technology at CES, which he interpreted as claiming the company’s maps are the best in the world. Russell used “jargon and double-speak” while Luminar presented and shared company updates at CES 2023, Left said, adding, “People want to hear about revenues now, not bulls***.” Austin will not see any meaningful revenue in the near future,” Left told Benzinga. “Austin Russell wants investors to be patient for the ‘back half of the decade.’ What? Are you kidding me. CEO Austin Russell uses every bit of jargon and double-speak at CES to avoid the fact that his company will not see any meaningful revenue in near future,” Citron tweeted.Ĭitron shared a quote from Russell at CES where the Luminar founder and CEO said, “I think the reality is the vast majority of the value of what we have, contracted value and everything is like in the second half of the decade.”Ĭitron asked if this quote brings confidence to investors.īenzinga reached out to Andrew Left for comment on the tweets. “$LAZR stock looks like it's heading under $1. ![]() See Also: Dow Jumps 700 Points, S&P Rises Over 2% What Happened: Hedge fund Citron Research, which is headed by Andrew Left, shared tweets Friday on why the company is short shares of Luminar Technologies LAZR, one of several lidar companies that went public via SPAC merger. The Company's products include Iris lidar, Core Sensor Software, Perception Software and Sentinel.One of the themes of the last two years has been a growing number of lidar technology companies going public - many chose the SPAC route.Ī hedge fund is now taking on one of those companies and shared with Benzinga exactly why. The ATS segment provides advanced semiconductors and related components, as well as design, test and consulting services to the Autonomy Solutions segment and to various third-party customers, including government agencies and defense contractors, in markets generally unrelated to autonomous vehicles. The Autonomy Solutions segment is engaged in design, manufacturing, and sale of lidar sensors catering mainly to the original equipment manufacturers (OEMs) in the automobile, commercial vehicle, robo-taxi and adjacent industries. The Company operates through two segments: Autonomy Solutions and Advanced Technologies and Services (ATS). The Company enables safety and autonomous capabilities for passenger and commercial vehicles as well as other adjacent markets. is a global automotive technology company, which is engaged in vehicle safety and autonomy. Consumer Discretionary : Automobile Components | Small Cap Growth Company profile ![]()
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