Stock Alert: Velodyne Lidar Jumps 10%

(RTTNews) - Shares of Velodyne Lidar, Inc. (VLDR) are currently up over 10%. The company announced it has joined the Qualcomm Smart Cities Accelerator Program to promote using lidar technology in smart city solutions.

VLDR is currently trading at $27.68, up $3.00 or 12.16%, on the Nasdaq.

Velodyne said that by becoming part of the Qualcomm Smart Cities ecosystem, it can work more closely with Qualcomm Technologies, governments and solution developers to create smart city applications.

Last week, Velodyne Lidar announced a multi-year sales agreement for Alpha Prime sensors with Motional. Velodyne will be the exclusive provider of long-range, surround view lidar sensors for Motional's SAE Level 4 driverless vehicles.