Stock Market Today, Jan. 7: Mobileye Global Jumps After Announcing $900 Million Mentee Robotics Acquisition
Mobileye Global (NASDAQ:MBLY), which develops advanced driver-assistance systems (ADAS) and autonomous driving technologies, closed Wednesday’s session at $12.24, up 0.49%. The action followed premarket news of Mobileye’s $900 million acquisition of Mentee Robotics.Trading volume reached 50.8 million shares, approximately 800% above its three-month average of 5.8 million. Mobileye IPO'd in 2022 and has fallen 58% since going public. The S&P 500 (SNPINDEX:^GSPC) slipped 0.34% to 6,922, while the Nasdaq Composite (NASDAQINDEX:^IXIC) inched up 0.16% to 23,584. Within the auto parts industry, rivals Aptiv fell 0.56% and BorgWarner declined 0.94%.It has been a big week for Mobileye. Two days removed from receiving two rating upgrades from Wall Street investment firms -- and one day after the company landed a major deal with a U.S. carmaker for its ADAS -- Mobileye acquired humanoid robotics upstart Mentee Robotics for $900 million. Mobileye initially rallied 15% this morning before giving up most of these gains as the market digested the news.Continue readingWeiter zum vollständigen Artikel bei MotleyFool
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