Mobileye shares fell 10% in early Wall Street trading Thursday following the announcement that founder Amnon Shashua is stepping down as CEO, according to Channel 12 news.
Mobileye shares dropped 10% in early trading on the New York Stock Exchange Thursday, after the Israeli autonomous driving technology company announced that founder Amnon Shashua is stepping down as CEO. The retirement was announced earlier Thursday afternoon, as The Zioneer reported. The sharp decline reflects market uncertainty following the leadership transition at the company, which was acquired by Intel in 2017 and went public again in 2022. Shashua co-founded Mobileye in 1999 and led its development into a global leader in advanced driver-assistance systems. The stock movement is the single largest intraday drop for Mobileye in recent months.
2 developments
- DevelopingSocial activist Shiral Hajjag steps down as AM:PM CEO, fueling political speculation
- DevelopingSpaceX shares fall below IPO price on Wall Street, N12 reports
- DevelopingUltra-Orthodox market figure Moshe Cohen quits markets, warns of impending crash
- DevelopingAlarum to lay off a third of staff after FBI probe, stock crash
Source and signal
A single-sourced dispatch is never rated Confirmed or Strong. Its Signal strengthens only when a second, independent source corroborates it.
- Internal intake