Birds of a feather flock together. First, we had all the electric vehicle stocks back their assets up into a special purpose acquisition company (SPAC) in reverse merger arrangements that sent shares soaring before deals even closed. Now, it appears that LiDAR companies are following suit. Since there is strong interest from our readers on these disruptive tech IPOs, SPACs or not, we’re going to cover one today – Luminar – which is looking to go public via SPAC on the heels of Velodyne.
The First LiDAR IPO
We first talked about Velodyne’s initial public offering through a SPAC and noted that shares are now up +80% because of a deal that’s supposed to close this quarter. (All SPACs start at $10 per share, which makes it easy to see how high the Robinhood mini-ballers have pushed it.) We advised that investors should (and this may sound like crazy talk to some of you) wait until the transaction closes before doing anything. Once shares soar yet again on news of the deal actually closing, speculators will move on to the next target. Just wait until