The simple reason to buy Graf Industrial (NYSE:GRAF) stock is that it is a bet on the growth of self-driving cars. Graf, a special purpose acquisition company (SPAC), is merging with Velodyne Lidar, a key supplier for autonomous vehicles.
That simple case probably is enough. Self-driving cars unquestionably are the future. They are one of the real hypergrowth trends of the coming decade, a period I’ve called the Roaring 2020s.
Obviously, self-driving cars won’t arrive tomorrow, or even next year. But they’re on the way. And as we’ve seen elsewhere in the market, investors remain content to wait years, if necessary, for the market’s best growth stories. Graf and Velodyne well could be one of those stories.
But what makes GRAF stock truly exciting is that it is more than just a play on autonomous vehicles. Its LiDAR (light detection and