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From $5.38 to 17 Cents: Inside Senator McConnell's 97% Stock Wipeout
Yahoo Finance· 2026-01-17 14:31
Core Insights - Senator Mitch McConnell sold shares of Luminar Technologies in 2025, following the company's bankruptcy declaration, which significantly impacted the stock's value [2][4]. Company Transactions - McConnell's spouse reported selling Luminar stock in two transactions in 2025, with the latest occurring shortly after the company declared bankruptcy [2]. - The senator's reported ownership of Luminar stock was between $15,000 to $50,000 in 2024, but the acquisition price remains unknown [3]. Stock Performance - Luminar shares closed at $5.38 at the end of 2024, peaked at $10.40 in January 2025, but fell below $5 in April 2025 [4]. - On June 26, 2025, Luminar shares traded at $2.95, reflecting a 45.2% decline from the 2024 closing price, and by December 24, 2025, the shares dropped to $0.169, a 96.9% decrease from the previous year [5]. Financial Implications - If McConnell held $15,000 in Luminar shares until December 24, 2025, the value would have plummeted to approximately $471.17, indicating a missed opportunity of $14,528.83 had he sold before the end of 2024 [6].
X @Bloomberg
Bloomberg· 2025-12-11 21:06
Technology & Innovation - Rivian is investing heavily in its proprietary AI chip and lidar technology [1] - The company believes these technologies are crucial for achieving true autonomous driving capabilities [1] - Rivian is moving away from Nvidia, indicating a shift towards in-house technology development [1] Automotive Industry - The EV maker is focusing on autonomous driving technology [1]
CPTN INVESTOR ALERT: Berger Montague Advises Cepton, Inc. (NASDAQ: CPTN) Investors of a December 8, 2025 Deadline
Prnewswire· 2025-11-04 22:06
Core Viewpoint - A class action lawsuit has been filed against Cepton, Inc. for allegedly failing to disclose a more favorable third-party merger offer during the approval process of its acquisition by Koito Manufacturing Co., Ltd. [1][3] Company Overview - Cepton, Inc. is a lidar technology company based in San Jose, California, and was acquired by Koito in January 2025, after which its stock is no longer publicly traded [2]. Legal Allegations - The lawsuit claims that Cepton's leadership did not disclose a credible third-party offer that valued the company at more than double the price of the Koito proposal [3]. - It is alleged that Cepton's Board of Directors did not adequately evaluate the third-party offer and failed to include this information in the proxy materials for the Koito acquisition [3]. - The lawsuit also points to significant conflicts of interest involving Cepton's CEO, Jun Pei, which may have influenced the Board's decision-making [4]. Investor Information - Investors who bought or sold Cepton securities during the class period from July 29, 2024, to January 6, 2025, have until December 8, 2025, to seek appointment as lead plaintiff [2].
Trimble Inc. (TRMB) Taps Martin Equipment as Trimble Technology Outlet
Yahoo Finance· 2025-09-18 16:40
Company Overview - Trimble Inc. (NASDAQ: TRMB) is recognized as a leading company in the lidar technology sector, integrating this technology into its hardware and software solutions for applications such as mobile mapping, terrestrial scanning, and augmented reality visualization [4]. Strategic Partnership - Trimble has announced a strategic partnership with Martin Equipment, allowing Martin Equipment to sell Trimble's grade control site positioning systems and correction services technology directly to customers [2]. - This partnership expands Trimble's distribution channel to include authorized resellers from various manufacturers, facilitating easier access for users of different machine types to purchase and implement Trimble technology, thereby enhancing worksite productivity and profitability [2]. Vision and Goals - The company aims to simplify the connection between digital and physical worlds for contractors using diverse equipment, ultimately increasing jobsite productivity and profitability through the adoption of Trimble technology [3].