Luminar Shares Surge 27% After Viral Lidar Test Video

Luminar Technologies' shares surged by 27% following a viral YouTube video by former NASA scientist Mark Rober, who showcased the company's lidar technology and compared its performance favorably against Tesla's Autopilot system. The video, which has garnered over 11 million views since its release on March 15, demonstrated six tests of Luminar's lidar capabilities, which utilize laser pulses to create detailed 3D maps, contrasting with Tesla's reliance on camera-based navigation. Despite the significant stock increase, Luminar's shares remain approximately 80% below their peak from July of the previous year. Meanwhile, Tesla's stock fell by 4.8%, underperforming major indices. Rober clarified that he was not compensated for the video, indicating it was not a paid promotion, even though Luminar provided the vehicle for testing. The company is set to release its fourth-quarter earnings on March 20, which may further impact investor sentiment.