Yahoo Finance Live anchors discuss JPMorgan initiating coverage of Luminar, Innoviz, Cepton, and Velodyne.
While more and more automakers are adopting lidar technology for safer driving, a clear leader in the space has yet to emerge. Lidar, which stands for "light detection and ranging," uses lasers to allow cars to "see" other vehicles and potential obstacles in their path. Luminar Technologies (NASDAQ: LAZR) has always been the lidar darling -- largely for being one of the first to go public, and early to win high-profile production contracts with Volvo for hands-free, eyes-off highway driving, and from Polestar.
The broader stock market has rebounded nicely since its mid-June lows, with all three major indices officially out of a bear market. Cognex (NASDAQ: CGNX), Luminar Technologies (NASDAQ: LAZR), and TPI Composites (NASDAQ: TPIC) are three growth stocks that could be worth a look. Lee Samaha (Cognex): It's been a tough year for Cognex, and the stock's 38% decline says a lot about it.