Automotive technology stock Luminar Technologies, Inc. (LAZR) was an investor favorite when the stock market was on a bull run following the pandemic-led plunge. The company enables solutions for series production passenger cars and commercial trucks. The provider of lidar technology operates under two segments: Autonomy Solutions and Components.
However, since the stock market has been battling several macroeconomic and geopolitical headwinds since the beginning of this year, LAZR has gotten hammered due to concerns over its weak financials.
