LAZR - stevehemingway/trading GitHub Wiki
Citron Research tweeted critically on Luminar Technologies (NASDAQ: LAZR — $1.43 billion), a vision-based lidar company for self-driving cars. Citron criticized the leadership’s use of jargon and lack of tangible results.
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Citron Research @CitronResearch
$LAZR stock looks like it is heading under $1. CEO Austin Russel uses every bit of jargon and double speak at CES to avoid the fact that his company will not see any meaningful revenue in near future. Does this quote give your confidence?
](https://substack.com/redirect/07cd92e5-7bfe-4f5e-ae82-6d5165cf5c23?j=eyJ1Ijoibm1idCJ9.oKN8sNuAta-fKDvVXVf40Ijrk4j2KaDlakvdPE7BH98 "Click to open https://substack.com/redirect/07cd92e5-7bfe-4f5e-ae82-6d5165cf5c23?j=eyJ1Ijoibm1idCJ9.oKN8sNuAta-fKDvVXVf40Ijrk4j2KaDlakvdPE7BH98")[
3:02 PM ∙ Jan 6, 2023
98Likes18Retweets
](https://substack.com/redirect/07cd92e5-7bfe-4f5e-ae82-6d5165cf5c23?j=eyJ1Ijoibm1idCJ9.oKN8sNuAta-fKDvVXVf40Ijrk4j2KaDlakvdPE7BH98 "Click to open https://substack.com/redirect/07cd92e5-7bfe-4f5e-ae82-6d5165cf5c23?j=eyJ1Ijoibm1idCJ9.oKN8sNuAta-fKDvVXVf40Ijrk4j2KaDlakvdPE7BH98")
https://wallstreetonparade.com/the-obama-bubble-agenda/Citron Research also tweeted out an article reporting that Luminar’s 26-year-old CEO bought an $83 million house. Luminar is down ~60% since its December 2020 SPAC merger.
Fiat Lux Partners published a rebuttal to Spruce Point Capital on Saputo Inc (Toronto: SAP — CAD$14.3 billion), a Canadian dairy and cheese roll-up. Fiat Lux wrote, “Spruce Point’s report contains numerous critical errors which mischaracterize the financial state of the company.” Specifically, Fiat Lux said the company’s “new potential fraud warning” highlighted by Spruce Point is a standard disclosure under new U.K. auditing standards. Fiat Lux also said Spruce Point’s arguments of an underfunded pension liability were based on “unreasonably aggressive inflation assumptions” outside of standard economic forecasts.
Fiat Lux Partners is a new group that describes themselves as “short activists calling out weak short activism.” They are @FiatLuxPartners on Twitter.
In the aftermath of this report, which seems to have disappeared from Twitter, the stock shot up to $10.5, from about 4. It has now come down to around $5.5. This was not a good call. To be fair, it's way down from it's high of $41 after the SPAC closed.