$Mobileye Global Inc.(MBLY)$ Coming out of it's Doom Loop - target $15 possibly.
Mobileye Stock Jumps. Thanks, Intel
Updated Sept 19, 2024 9:45 am EDT / Original Sept 19, 2024 7:55 am EDT
Shares of Mobileye Global were rising Thursday after majority shareholder Intel said it currently has no plans to divest a majority interest in the autonomous-driving company.
Mobileye stock rose 9.8% in Thursday trading. Intel shares gained 1.6%.
“By providing Mobileye with separation and autonomy, we have enhanced its ability to capitalize on growth opportunities and accelerate its path to creating even greater value,” Intel said in a press release.
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The news follows a Bloomberg report from earlier this month that Intel was exploring selling part of its stake in the company.
Intel owns all of Mobileye’s supervoting class B stock, through which it controls 98.7% of the voting power, according to Mobileye’s latest proxy form.
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- bumpy·09-25Great news for Mobileye GlobalLikeReport