Mobileye Global Inc. (MBLY) stock surged on Thursday after Intel Corp (INTC) dispelled rumors of selling its majority stake in the Israeli autonomous driving company. Intel’s commitment to Mobileye’s future and its belief in the autonomous driving technology propelled the stock’s significant rise.
Results for: Mobileye
Mobileye Global Inc (MBLY) stock experienced a significant jump on Thursday, driven by Intel’s reaffirmation of its majority stake in the company and the U.S. Federal Reserve’s interest rate cut. The news comes amidst Intel’s recent success in securing lucrative chipmaking deals, including a multi-billion-dollar contract with Amazon and funding from the CHIPS and Science Act.
Top 10 Worst-Performing Large-Cap Stocks Last Week: Tencent Music, Mobileye, Rivian Lead the Decline
Tencent Music, Mobileye, Rivian, Chipotle, and Lineage were among the top ten worst-performing large-cap stocks last week. Analysts cited various reasons for the decline, including revenue misses, leadership changes, supply chain issues, and price target reductions.