LiDAR is widely considered to be the future of self-driving cars, and Luminar is well-positioned to capitalize on this trend.
The company specializes in LiDAR, a laser-based technology that allows autonomous vehicles to see and understand their surroundings better than cameras and radar technology.
Luminar Technologies (NASDAQ: LAZR) is one of my favorite stocks in the self-driving car space. Here are three high-growth stocks with monster potential to snap up on dips. Market sentiment is always changing, and high-growth stocks will eventually rally when the storm passes. But pleasing Wall Street by slowing down the business’ expansion is not always the best long-term decision. Of course, the side effect here is that Wall Street will not be pleased right now. It is also a good time for companies in high-potential sectors with reliable funding sources to expand their market share while their peers slow down. Many companies can pull off substantial growth and sustain it for years before transitioning into profit-making companies.
While focusing on profitability is key, sometimes it is not the best decision unless the company is already well-established, like the FAANGs. The risk factor with many companies with high sales growth and low profits is often overblown in the current environment. However, I believe they will rally substantially once Wall Street is more comfortable with high-growth companies. Companies in such sectors are trading at depressed prices as they aren’t focused on cash generation right now.
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