Luminar Technologies stock rallies after deal news, insurance program

Shares of Luminar Technologies Inc.

rose nearly 3% in midday trading Tuesday after the lidar company unveiled a slew of initiatives during its investor day, including news it bought in January Seagate Technologies Holdings PLC’s STX lidar-related assets, including intellectual property, for an undisclosed amount. Luminar also said its plant in Mexico is ahead of schedule, now expected to come online in the second quarter versus company guidance that it would be up in the second half of the year.

rose nearly 3% in midday trading Tuesday after the lidar company unveiled a slew of initiatives during its investor day, including news it bought in January Seagate Technologies Holdings PLC’s STX lidar-related assets, including intellectual property, for an undisclosed amount. Luminar also said its plant in Mexico is ahead of schedule, now expected to come online in the second quarter versus company guidance that it would be up in the second half of the year.

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