What's Going On With Luminar Technologies Stock Thursday?

Luminar Technologies Inc. (NASDAQ:LAZR) shares are trading lower Thursday. The lidar company’s stock began trading on a split-adjusted basis. Here’s what you need to know.

What To Know: Luminar shareholders voted to approve a proposal regarding a reverse stock split at the end of October. On Nov. 13, Luminar’s board approved the reverse split at a ratio of 1-for-15. The split went into effect after the market close on Wednesday.

The reverse stock split was authorized by the company's board as part of a larger strategy to improve the company’s stock price and potentially attract more institutional investors. The adjusted shares began trading Thursday ...

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