Innoviz Technologies Stock Is Rising Tuesday: What's Driving The Momentum?
Innoviz Technologies Ltd (NASDAQ:INVZ) shares are rising Tuesday after the company announced it signed a Statement of Development Work (SoDW) agreement with a top five passenger automotive manufacturer.
What To Know: Innoviz will supply advanced lidar (light detection and ranging) units for the undisclosed OEM’s highly automated series-production program. The company is targeting start of production in 2027.
Under terms of the agreement, Innoviz will develop hardware and software modifications for its InnovizTwo lidar system to ensure seamless integration into the OEM’s vehicle system, beginning in the second quarter of 2025. Innoviz said it will supply several hundred lidar units over the coming months.
“It’s an exciting step forward for the industry as mass market car manufacturers begin moving towards highly automated and fully autonomous driving solutions,” said Omer Keilaf, co-founder and CEO of Innoviz Technologies.
“Collaborating with one of the most respected automotive manufacturers in the world underscores the growing demand for LiDAR solutions that meet the industry’s toughest technical and safety standards.”
How To Buy INVZ Stock
By now you're likely curious about how to participate in the market for Innoviz – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
INVZ Price Action: Innoviz shares were up 25.4% at $1.17 at the time of publication Tuesday, per Benzinga Pro.
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Photo: courtesy of Innoviz Technologies.
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