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Graf Industrial Corp. Warrants (each warrant exercisable for one-half of one share of common stock each at an exercise price of $11.50 per share) (GRAF-WT)



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Upturn Advisory Summary
08/13/2025: GRAF-WT (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit 0% | Avg. Invested days 0 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size ETF | Market Capitalization 0 USD | Price to earnings Ratio - | 1Y Target Price - |
Price to earnings Ratio - | 1Y Target Price - | ||
Volume (30-day avg) - | Beta - | 52 Weeks Range 0.13 - 0.30 | Updated Date 05/16/2025 |
52 Weeks Range 0.13 - 0.30 | Updated Date 05/16/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) - |
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin - | Operating Margin (TTM) - |
Management Effectiveness
Return on Assets (TTM) -0.4% | Return on Equity (TTM) - |
Valuation
Trailing PE - | Forward PE - | Enterprise Value - | Price to Sales(TTM) - |
Enterprise Value - | Price to Sales(TTM) - | ||
Enterprise Value to Revenue - | Enterprise Value to EBITDA - | Shares Outstanding - | Shares Floating 15333238 |
Shares Outstanding - | Shares Floating 15333238 | ||
Percent Insiders - | Percent Institutions - |
Upturn AI SWOT
Graf Industrial Corp. Warrants (each warrant exercisable for one-half of one share of common stock each at an exercise price of $11.50 per share)
Company Overview
History and Background
Graf Industrial Corp. was a special purpose acquisition company (SPAC) formed in 2018. It completed a merger with Velodyne Lidar, Inc. in September 2020. These warrants represent the right to purchase Velodyne stock at $11.50 for one-half of one share.
Core Business Areas
- Warrants: The warrants themselves represent a financial instrument derived from the original SPAC structure. They provide the holder the right, but not the obligation, to purchase shares of the underlying company (Velodyne) at a predetermined price.
Leadership and Structure
Before the merger with Velodyne, Graf Industrial Corp. was led by its management team focused on identifying and acquiring a business. After the merger, the leadership structure shifted to Velodyne's existing management team. The warrants are now tied to Velodyne Lidar's corporate structure.
Top Products and Market Share
Key Offerings
- Velodyne Lidar Shares (underlying asset): These warrants relate to the right to acquire Velodyne Lidar shares. Velodyne offers lidar sensors used in autonomous vehicles, robotics, and mapping. Market share data for lidar companies fluctuates, with Velodyne being a pioneer but facing competition from companies like Luminar and Innoviz. Competitors: Luminar (LAZR), Innoviz (INVZ), Ouster (OUST), Aeva (AEVA).
Market Dynamics
Industry Overview
The lidar industry is rapidly growing, driven by the increasing demand for autonomous driving technology, advanced robotics, and mapping solutions. It is highly competitive and technologically driven.
Positioning
The warrants' value is directly tied to the performance of Velodyne Lidar and the overall market sentiment toward lidar technology. Velodyne faces significant competition in a dynamic market.
Total Addressable Market (TAM)
The TAM for the lidar market is projected to be in the tens of billions of dollars over the next decade. Velodyne is positioned to capture a share of this market, but it faces increasing competition to maintain its market share.
Upturn SWOT Analysis
Strengths
- Early mover advantage in lidar technology (historically)
- Established brand recognition within the lidar industry (historically)
- Potential upside tied to Velodyne's growth and innovation.
Weaknesses
- Dependence on Velodyne's success
- Dilution risk associated with warrant exercise
- Vulnerability to changes in Velodyne's stock price
- Intense competition within the lidar market
Opportunities
- Growth in autonomous vehicle market
- Expansion into new lidar applications (robotics, mapping)
- Potential for strategic partnerships or acquisitions for Velodyne
- Technological advancements in lidar sensors
Threats
- Increased competition from established and emerging lidar companies
- Technological obsolescence
- Regulatory hurdles for autonomous vehicles
- Economic downturn affecting automotive sales and technology investment
- Velodyne Lidar specific issues
Competitors and Market Share
Key Competitors
- Luminar Technologies Inc. (LAZR)
- Innoviz Technologies (INVZ)
- Ouster Inc. (OUST)
- Aeva Technologies Inc. (AEVA)
Competitive Landscape
Velodyne Lidar faces intense competition. The warrant's value depends on Velodyne's ability to maintain or increase its market share and innovate to stay ahead of competitors. Its early mover advantage has diminished as other players have entered the space.
Growth Trajectory and Initiatives
Historical Growth: Growth is tied to Velodyne Lidar's historical performance.
Future Projections: Future growth projections depend on Velodyne Lidar's ability to compete and innovate within the lidar market. Analyst estimates for VLDR should be consulted.
Recent Initiatives: Refer to Velodyne Lidar (VLDR) press releases and investor presentations for recent strategic initiatives.
Summary
Graf Industrial Corp. Warrants (VLDRW) are derivative securities tied to Velodyne Lidar's performance. The warrant's value hinges on Velodyne's success in a highly competitive lidar market. Significant risks include competition, technological obsolescence, and market volatility. Positive factors include growth in autonomous vehicles, but market sentiment surrounding growth companies has been variable.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC filings (EDGAR database)
- Company press releases
- Analyst reports
- Financial news sources
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be made based on thorough research and consultation with a qualified financial advisor. The warrant's value is speculative and subject to significant price fluctuations. Market share data is dynamic and may vary across different sources.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Graf Industrial Corp. Warrants (each warrant exercisable for one-half of one share of common stock each at an exercise price of $11.50 per share)
Exchange NASDAQ | Headquaters The Woodlands, TX, United States | ||
IPO Launch date - | CEO, CFO & Director Mr. James A. Graf | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website |
Graf Global Corp., a blank check company, focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2021 and is based in The Woodlands, Texas.

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