Why Luminar Shares Are Rising Today and What's Its Connection To Apple Car?

  • Luminar Technologies, Inc LAZR roped in Christopher “CJ” Moore, a manager on Apple Inc’s AAPL car project and a former director of Autopilot at Tesla Inc TSLA, to lead global software development, Bloomberg reports.
  • Moore, who had joined Apple in August, will lead Luminar’s software team to develop autonomous safety features integrated with its lidar or laser sensors.
  • Over the last two years, nearly the entire Apple Car management team has exited. 
  • Earlier this month, Ian Goodfellow, another Apple project director, quit for Alphabet Inc’s GOOG GOOGL DeepMind. 
  • Meanwhile, Apple attracted talents from Ford Motor Company FRivian Automotive, Inc RIVN, and other car industry players.
  • Price Action: LAZR shares traded higher by 8.91% at $9.23 on the last check Wednesday. AAPL shares traded higher by 0.76% at $141.43.
  • Photo via Company
Posted In: Briefswhy it's movingNewsMoversTechMediaTrading Ideas