Mark Rober, a former NASA scientist and YouTube personality, has tested a car equipped with Luminar Technologies’ lidar technology against Tesla Inc.’s Autopilot feature. The video, which has garnered over 11 million views, shows Rober conducting six tests to assess the performance of both systems.
According to Rober, Luminar’s lidar technology outperformed Tesla’s system, which relies solely on camera-based navigation and image processing. This led to a significant surge in Luminar shares, with a 27% gain on Monday – the company’s largest gain in over two months.
Tesla shares, however, fell 4.8% after Rober’s video was released. The test results are a significant blow to Tesla’s Autopilot system, which has faced criticism for its limitations and reliance on camera-based navigation.
Luminar’s X and LinkedIn accounts posted links to the YouTube video on March 15, stating that Rober was not financially compensated by the company for his assessment. Despite this, Luminar shares remain down roughly 80% from their one-year peak in July.
The company will report fourth-quarter results after the market closes on March 20. With this latest development, investors are taking notice of Luminar’s lidar technology and its potential to outperform competitors like Tesla.
Source: https://finance.yahoo.com/news/luminar-shares-soar-viral-test-192138119.html