U.S. stock night trading volatility: Luminar's bankruptcy proceedings receive creditor support, stock price drops 3.12% in after-hours trading, raising market concerns

U.S. Stock Night Market Movements Luminar Tech fell 3.12% in the night market. Based on recent news, On December 23, Luminar announced it had entered bankruptcy proceedings and received support from 91.3% of first lien creditors and 85.9% of second lien creditors. CEO Paul Ricci stated that legacy debt and the pace of industry adoption are major challenges, and a court-supervised sale is the best way to maximize value. The company expects to continue daily operations, with its stock price down 64.53%. On December 20, analysts gave Luminar stock a latest rating of sell, with a target price of $0.21. Analysts pointed out that Luminar faces severe financial instability, reflected in its negative profit margins, high leverage, and recent bankruptcy filing. On December 17, NASDAQ notified the company that it would be delisted due to the Chapter 11 proceedings initiated on December 15. Trading will be suspended at the market open on December 24, and the stock is expected to trade on the pink sheets. The lidar market is highly competitive, with significant cost pressures. Stocks with High Trading Volume in the Industry WeRide, rose 0.22% in the night market, with a trading volume of $79,200, and no significant news recently. Trading is active, with clear capital flows. Considering sector and industry trends, the stock shows significant volatility, and specific reasons need further observation. Solid Power, rose 0.22% in the night market, with a trading volume of $74,800, and no significant news recently. Trading is active, with clear capital flows. Considering sector and industry trends, the stock shows significant volatility, and specific reasons need further observation. Hesai Technology fell 1.10% in the night market. Based on recent key news: On December 22, Hesai Technology announced a strategic partnership with Meituan's drone division to launch the second-generation pure solid-state lidar FTX, securing mass production points from Meituan's drones. This news drove stock price volatility, as the market is full of expectations for the commercialization of new technology. Source: Guandian.com On December 22, analysis pointed out that technological advancement does not equal commercial viability, and Hesai Technology needs to be wary of reliance on a single customer and risks in supply chain integration. This viewpoint raised market concerns about its long-term competitiveness, affecting the stock price. Source: Guandian.com On December 23, domestic media reported that the cooperation between Hesai Technology and Meituan's drones was further confirmed, strengthening market confidence in its technology application, but also raising concerns about its market dependence. Source: Domestic media reported that competition in the lidar industry is intensifying, and attention should be paid to technological risks