Mobileye riding high after shelving fully autonomous vehicle dream
What’s the reason behind the surge in Mobileye’s stock on Nasdaq in recent weeks? On Tuesday it jumped by almost 10% even though the entire market stuttered after the higher-than-expected inflation data. The Israeli autonomous vehicle company, which went public last October, is now trading at a value of $37 billion, more than double the value at which it was issued, which makes it the largest Israeli company in the world in terms of market capitalization. It also brings it closer to the original value at which Intel dreamed of issuing it about a year ago – $50 billion.