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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
10/15/2025: GRAF-WT (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type Stock | Historic Profit 14.29% | Avg. Invested days 4 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  5.0 | Stock Returns Performance  2.0 |
| Profits based on simulation | Last Close 10/15/2025 |
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 merged with Velodyne Lidar in 2020. The warrants provided the holder the right to purchase half a share of Velodyne Lidar common stock at $11.50 per share.
Core Business Areas
- SPAC Formation: Graf Industrial Corp. was a SPAC formed to acquire and bring a company public.
- Merger Target Identification: The core function was to identify and merge with a private company deemed to have high growth potential.
Leadership and Structure
As a SPAC, Graf Industrial Corp. had a management team focused on deal sourcing and execution. The organizational structure was relatively simple, typical of SPACs, with a board of directors and a management team led by the CEO.
Top Products and Market Share
Key Offerings
- Warrants: Each warrant allowed the holder to purchase one-half share of Velodyne Lidar common stock at an exercise price of $11.50. The value of the warrants was tied to the underlying stock price of Velodyne Lidar (VLDR). Competitors for VLDR include Luminar Technologies (LAZR) and Innoviz Technologies (INVZ).
Market Dynamics
Industry Overview
The industry Graf operated in as a SPAC involved identifying promising private companies for reverse mergers. This is a highly competitive and speculative market.
Positioning
Graf Industrial Corp. positioned itself as a SPAC targeting the industrial and technology sectors.
Total Addressable Market (TAM)
The TAM for SPACs is dependent on the overall private equity and venture capital markets and the desire for companies to go public. Graf sought to capture a small portion of the overall market through its chosen target (Velodyne).
Upturn SWOT Analysis
Strengths
- Experienced management team in deal sourcing
- Access to capital for acquisition
- Flexibility in target selection
Weaknesses
- Dependence on finding a suitable target
- Limited operating history before acquisition
- Risk of deal failure
Opportunities
- Growing interest in alternative routes to public markets
- Potential for high returns if target performs well
- Ability to leverage industry expertise
Threats
- Increased competition from other SPACs
- Regulatory changes impacting SPAC structures
- Market volatility affecting deal valuations
- Failure of the merged entity to perform as expected
Competitors and Market Share
Key Competitors
- Luminar Technologies (LAZR)
- Innoviz Technologies (INVZ)
Competitive Landscape
Velodyne, Luminar, and Innoviz compete in the lidar market for autonomous vehicles and other applications. Velodyne was one of the first companies to focus on this industry but now faces increasing competition. Note: Market share data is approximate and varies by source.
Growth Trajectory and Initiatives
Historical Growth: Growth is measured by the success of the acquired company (Velodyne Lidar) post-merger.
Future Projections: Future projections depend on the performance of Velodyne Lidar and its ability to capture market share.
Recent Initiatives: Not applicable to Graf Industrial Corp. as a standalone entity post-merger. Initiatives would be those of Velodyne Lidar.
Summary
Graf Industrial Corp. was a SPAC that successfully merged with Velodyne Lidar. The success of the investment hinged on Velodyne's performance after the merger. The warrants provided leveraged exposure to VLDR's stock performance, but were highly sensitive to market volatility and company execution. SPAC investments carry inherent risks, and the performance of the underlying target company is paramount. Future success depends on VLDR's innovation and market adaptation.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC filings
- Market research reports
- Company press releases
Disclaimers:
This analysis is for informational purposes only and does not constitute financial advice. Investment decisions should be based on thorough research and consultation with a qualified financial advisor. Market share data is approximate.
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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