11 Reddit Stocks with Biggest Upside Potential

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5. Luminar Technologies Inc. (NASDAQ:LAZR)

Average Upside Potential as of November 11: 85.19%

Luminar Technologies Inc. (NASDAQ:LAZR) is a technology company that develops vision-based LiDAR and machine perception technologies, primarily for self-driving cars. It also develops advanced technologies like specialized chips and lasers.

The company has a strong focus on growing partnerships with global automakers. Volvo Cars recently deepened its relationship with Luminar Technologies Inc. (NASDAQ:LAZR). Building on the successful launch of the Volvo EX90 equipped with this company’s LiDAR, Volvo has chosen it as standard equipment for an additional vehicle model. In Q3 2024, it successfully delivered a significant amount of product for the Volvo EX90, exceeding the combined shipments of the previous 3 quarters. Additionally, with global deliveries underway, Volvo is expanding the EX90’s reach beyond the US market.

It also secured a new advanced development contract with a prominent Japanese automaker. This collaboration focuses on integrating the company’s LiDAR technology and developing new software capabilities for the automaker’s next-generation advanced driver-assistance system (ADAS). It further underscores its position as a key player in enabling future ADAS and autonomous driving systems.

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