Why Mobileye Global Shares Are Trading Lower By Over 23%? Here Are Other Stocks Moving In Thursday's Mid-Day Session
Portfolio Pulse from Avi Kapoor
Mobileye Global Inc. (MBLY) shares plummeted over 23% after issuing preliminary FY23 financial results and initial 2024 guidance, which were below the previous implied guidance. Wolfe Research analyst Shreyas Patil downgraded the stock from Outperform to Peer Perform. Other stocks experienced significant movement in Thursday's mid-day session, with various companies reporting gains due to positive developments, collaborations, and strategic reviews, while others faced declines due to public offerings, corporate updates, and preliminary financial results.
January 04, 2024 | 6:37 pm
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Mobileye Global Inc. shares dropped sharply by 23.5% to $30.37 after preliminary FY23 results and 2024 guidance fell short of expectations, accompanied by a downgrade from Wolfe Research.
The sharp decline in MBLY's stock price is directly related to the preliminary financial results and guidance that did not meet analyst expectations, as well as the subsequent downgrade by Wolfe Research. This negative sentiment is likely to influence the stock's short-term performance.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100