AEye Inc (NASDAQ:LIDR) shares are trading higher by 75% to $2.06 during Friday's session after the company disclosed a partnership with LITEON Technology Corporation.

AEye says this partnership aims to provide AEye access to customer channels and industrialization support. Together, they will supply AEye's 4Sight-based lidar products to automotive OEMs focused on safety through ADAS. By leveraging LITEON's experience and capabilities in automotive electronics, the collaboration seeks to deliver advanced lidar solutions at competitive costs.

LITEON's extensive expertise and global presence make them an ideal partner for AEye's business model, which relies on Tier 1 partnerships to reach OEMs efficiently. Both companies are enthusiastic about the collaboration's potential to capture a significant market share and pioneer advancements in autonomous driving.

How To Buy LIDR Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in AEye's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

According to data from Benzinga Pro, LIDR has a 52-week high of $24.02 and a 52-week low of $0.92.