Advanced driver assistance systems (ADAS) company Mobileye Global Inc. (Nasdaq: MBLY ) shares fell to a record low on Friday after news that Intel is considering selling some of its 88% stake in the Israeli company to facilitate. its liquidity problems. The stock fell 8.5% to $11.55, giving it a market value of $9.4 billion, down from $17 billion ($21 per share) at the time of its December 2022 IPO.
RELATED ARTICLES
Mobileye’s share price has tumbled 73% since the start of the year on downbeat forecasts, challenges in the Chinese market and Norway’s central bank Norges Bank selling more than half of its 10.7% stake in the company. Mobileye is now worth less than the $15 billion it was bought by Intel a decade ago.
Globes, Israel business news – en.globes.co.il – published on September 8, 2024.
© Copyright 2024 by Globes Publisher Itonut (1983) Ltd.
