Luminar stock price forecast as LAZR forms a bullish pattern
Luminar (NASDAQ: LAZR) stock price has imploded. After soaring to a record high of $47.78 in 2021, it has become a penny stock trading at $1.65. Along the way, its market cap has dropped from a record high of over $13.5 billion to $745 million. Cash burning machineLuminar Technologies has been one of the top cash incinerators in the technology industry. That is understandable since the firm has been busy building its Light Detection and Ranging (LIDAR) technology for the automotive industry. Luminar’s annual losses have been in a strong upward trend over the years. Its net loss rose from $94.7...