Shares of Velodyne Lidar Inc. jumped 5.2% in premarket, putting it on track to open above the $1 mark, after the autonomous technology company announced an agreement to provide sensors to Stanley Robotics for an automated valet parking product. Financial terms of the multiyear agreement were not disclosed. “High-performance sensors are key to enabling our autonomous mobile robots to reliably navigate and maneuver in narrow parking lanes,” said Stanley Robotics Chief Operating Officer Mathieu Lips. Velodyne’s stock, which last closed at or above $1.00 on Sept. 22, has plunged 79.3% year to date through Monday, while the S&P 500 has shed 23.3%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0