Why Shares of Velodyne Lidar Acquirer, Graf Industrial, Are Trading Lower Today
Shares of Graf Industrial (NYSE: GRAF) were trading lower on Tuesday, amid a broader sell-off of stocks in companies focused on the future of transportation. Graf is a special-purpose acquisition company that last week announced a deal to merge with Velodyne Lidar, the largest maker of lidar sensors. Velodyne's lidar sensors are used by highly automated and prototype self-driving vehicles, as well as by some types of robots.
