Orbisa on LAZR
This time, Orbisa’s focus is on Luminar Technologies (Ticker: LAZR), a firm whose sensors are used in the autonomous systems of car manufacturers like Volvo and Nissan. Underperformance for Luminar, coupled with slow growth in the self-driving market, resulted in a 67% drop in its stock price year-to-date. Following the release of a disappointing earnings report on August 6, Orbisa saw a large spike in borrow quantity and financing rate, peaking at 123 million shares and nearly 8,000 basis points, respectively.
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Published September 5, 2024.
