Goldman Sachs analyst Mark Delaney suspended the firm’s rating on Luminar (LAZR) after the company elected to not make certain debt payments and entered into forbearance agreements. The company now has substantial doubt about its ability to continue as a going concern, the analyst tells investors in a research note.
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Read More on LAZR:
- Luminar downgraded to Underweight from Neutral at JPMorgan
- Luminar Technologies Faces Liquidity Challenges Amid Forbearance
- Luminar says stopped payments with respect to its Iris LiDAR products for Volvo
- Luminar CFO Thomas Fennimore to step down effective November 13
- Luminar says ‘exploring a number of potential strategic alternatives’
