Luminar (NASDAQ:LAZR) stock dropped last week, but it really shouldn’t have. For one, LAZR stock reported blowout second-quarter earnings — management raised the 2021 guide for revenues, order book, growth and commercial contract wins.

Here are some key takeaways from Luminar’s second-quarter earnings:

The company hiked its 2021 revenue guide up to $33 million from $27.5 million. And management also raised the order book growth target to 60% from 40%.

Luminar continues to make progress with Iris — its low-cost package meant for integration into the roofs of vehicles. The company has most of its series production ready to go, and recently passed a rigorous automotive-grade test for Iris. The company remains on track to enter C-sample phase by the end of the year.

The alpha version of Sentinel —Luminar’s full-stack autonomous solution — is also set to be released in that same timeframe — by the end of 2021.

Luminar will easily be able to fun operations for many years to come, with a projected $140 million cash spend in 2021 and $490 million remaining cash balance. With a 2022 commercial launch on the horizon, liquidity is not a problem at all.

On top of that, we also received news that Volvo is standardizing Luminar’s Iris LiDAR hardware — as well as Luminar’s software — in its production lines. That’s a huge win for Luminar’s newer software efforts.

Most importantly, the company released its first ever public demonstration of its Hydra LiDAR technology, in its second-quarter earnings video. It was a strong display of the company’s impressive technology. And we believe this display shows that Luminar is really close to unleashing its technology across the world.

We very much believe in the long-term potential of LAZR stock. And that shareholders who stick around through thick and thin will be handsomely rewarded.

Yes, LAZR  stock is a great investment in an industry ripe for disruption. Which means its stock can go much, much higher over the near- to long-term.

I predict that in the 2020s, you will see a handful of tech startups go from zero to $1 billion valuations in a matter of months.

And that’s why you need to invest in these tech startups today – because if you don’t, you’re going to miss the biggest and fastest economic gold rush in human history.

That’s why I teamed up with Wall Street icon Louis Navellier to host our first-ever 1 to 30 Wealth Summit last week, in which Louis and I discussed these hyperscalable business, why they’re so important, and where we think the best opportunities are…

Of course, we put together a portfolio of hyperscalable stocks to buy. But this isn’t just any portfolio. It’s a portfolio of seven small-cap, hyperscalable stocks that I think have 30X upside potential over the next few years.

Again, you heard that right: seven stocks with 30X or greater upside potential. All in one portfolio.

Want to hear more about those potentially life-changing opportunities? Click here… or don’t, and risk missing out the biggest economic boom of our lifetimes.

On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article.