Luminar falls after Citron sees shares heading below $1

Andrew Left’s Citron Research said via Twitter, "$LAZR stock looks like it is heading under $1. CEO Austin Russel uses every bit of jargon and double speak at CES to avoid the fact that his company will not see any meaningful revenue in near future. Does this quote give your confidence? ‘I think the reality is the vast majority of the value of what we have, contracted value and everything is like in the second half of the decade.’… He wants investors to be patient for the ‘back half of the decade’ yet according to the LA Times Russell’s $220 million stock sale closed on July 1, 2021. The very next day, on July 2nd, he closed on an $83 million Los Angeles estate. Investors should have sold their stock once they saw this guys house." Citron linked to an article from TMZ detailing the $83M mansion of Russell, the 26-year-old founder of Luminar. The shares are down 6% to $4.09 in morning trading.