Closing at $12.72 on Mar. 10, IPV SPAC stock has dropped more than 40 percent from its peak of $21.83. LIDAR stocks have seen a sell-off recently, with Luminar stock 48 percent off its peak and Velodyne stock down 60 percent.
The Collective Growth (CGRO) SPAC, which is taking LIDAR startup Innoviz public, is 38 percent off its peak, and CF Finance Acquisition Corp. III (CFAC), the SPAC taking Aeye public, is down 30 percent. Ouster SPAC partner Colonnade Acquisition Corp. (CLA) is down 42 percent from its peak.
LIDAR stocks have dropped alongside the broader tech sector. The pullback may be a result of the market adjusting itself after the recent bull run drove many stocks to record highs. Investors are keeping an eye on the Fed amid rising Treasury yields, and that’s also impacting the stock market.
View more information: https://marketrealist.com/p/ipv-spac-stock-forecast/