![]() Most automotive OEMs (apart from Tesla) are opting for the technology for their autonomous driving roadmaps and Velodyne happens to be one of the biggest players in the nascent market. Lidar technology is seen as a cornerstone of self-driving systems, which are one of the hottest areas in the automotive market. So what’s the longer-term outlook like for the company? Although the impact of the complaint relating to trade secrets and the governance-related issues are hard to gauge at this juncture, the prospects for Velodyne’s business and the broader lidar industry look good. See our dashboard analysis on Velodyne Stock Chances Of A Risefor more details. So is Velodyne Lidar stock likely to decline further in the coming weeks or is a rally looking more likely? According to the Trefis Machine Learning engine, which analyzes Velodyne’s historical stock price data, the stock has a strong chance of a rise over the next month. Separately, Velodyne has also faced selling pressure in recent months, driven by its weaker than expected revenue guidance for FY’21 and also seeing some corporate governance-related issues. While Velodyne has said that it was in the early stages of assessing Criterion’s complaint, it believes that the claims have no merit, noting that it would defend itself vigorously. ![]() The recent decline comes as the company was accused of stealing trade secrets relating to optical enclosures by Criterion Technology. The stock also remains down by over 50% year-to-date. Velodyne Lidar (NASDAQ: VLDR), a company that produces lidar sensors used in autonomous vehicles, has seen its stock decline by about 15% over the last week (five trading days).
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