Billionaire Louis Bacon’s 5 Stock Picks with Huge Upside Potential

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In this article, we discuss billionaire Louis Bacon’s 5 stock picks with huge upside potential. To read the details about Mr. Bacon’s life, portfolio performance, and investment strategy, go directly to Billionaire Louis Bacon’s 10 Stock Picks with Huge Upside Potential.

5. Luminar Technologies, Inc. (NASDAQ:LAZR)

Louis Bacon’s Stake Value: $35.667 million

Average analyst price target: $7.57

Average analyst price target upside: 198.03%

Luminar Technologies, Inc. (NASDAQ:LAZR) is a Florida-based company that develops and sells proactive safety and autonomy software solutions, sensors, and consulting services.

On November 10, Luminar Technologies, Inc. (NASDAQ:LAZR) announced that its iconic next-generation LiDAR technology will be part of Polestar Automotive Holding UK PLC (NASDAQ:PSNY)’s Polestar 4. The agreement also involves Intel Corporation (NASDAQ:INTC) and is expected to strengthen the existing partnership between the three corporations.

On November 8, Luminar Technologies, Inc. (NASDAQ:LAZR) reported its Q3 earnings result with a non-GAAP loss per share of $0.21 and revenue of $16.96 million, which grew 32.7% year-over-year (YoY).

Luminar Technologies, Inc. (NASDAQ:LAZR) was covered by 7 Wall Street analysts, and 5 keep a Buy rating on the shares. The average price target of $7.57 has an upside of 198.03%.

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