Although the specific details have not been provided by the company, investors see corporate governance issues as a red flag and the stock fell by about 30% in the days following the news. Secondly, the company posted a larger than expected loss and declining revenues over Q4 2020, as it continued to reduce prices for its sensors, in order to attract new customers and drive higher volumes. While Velodyne shipped a record 4,237 sensor units, its revenues fell by about 6% year-over-year to $17.85 million.