LeddarTech Stock Pauses After TI Partnership Drove 500%+ Gains Last Week: Retail Sentiment Dims

LeddarTech Holdings, Inc. ($LDTC) shares fell in Monday’s premarket session, giving back a fraction of the 500%+ gain they made last week.

The stock, however, is down about 27% for the year.

Quebec, Canada-based LeddarTech is an automotive software company that provides patented artificial intelligence (AI)-based low-level sensor fusion and perception software technology for advanced driver assistance systems (ADAS) and autonomous driving. 

The company went public through a merger with special purpose acquisition company (SPAC) Prospector Capital Corp. The stock commenced trading on the Nasdaq on Dec, 22, 2023.

The recent strong gains for LeddarTech stock came on the back of positive news including a strategic collaboration agreement and a software licensing agreement with Texas Instruments, Inc. ($TXN). The licensing agreement also provided for TI making advanced royalty payments to catalyze joint commercialization. 

The financing allowed LeddarTech to amend its credit facility with the Fédération des caisses Desjardins du Québec, and also amend the agreement with initial bridge lenders, and certain members of management and the board.

Last Thursday, the company said it received the first full installment of the advanced royalty payments provided under the agreement with TI.

The stock has an upcoming catalyst this week, with the company scheduled to host an investor and business update conference call at 8 a.m. ET on Wednesday. 

On Stocktwits, sentiment toward LeddarTech stock deteriorated from ‘neutral’ a day ago to ‘bearish’ (42/100), with message volume staying ‘normal.’

In premarket trading, as of 5:37 a.m. ET, LeddarTech stock fell 4.79% to $1.79.

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