Reported 1 day ago
Mobileye Global Inc. (NASDAQ:MBLY) experienced a 6.85% decline in stock price, closing at $13.88, due to a dampened investor sentiment following the European Union's decision to pause a trade deal with Israel amidst the ongoing Israel-Palestine conflict. This decision raises concerns about potential tariffs on the automotive industry, impacting Mobileye, which relies heavily on European customers like Volkswagen, BMW, and Stellantis. Despite a reduction in net loss and an increase in revenue, the company's future is uncertain in light of these developments.
Source: YAHOO