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Omor Ibne Ehsan

Mobileye Is Laying Off Staff. Is It Game Over for the Self-Driving Car Stock?

Mobileye Intel Corporation MBLY

Mobileye (MBLY) is an advanced driver-assistance system (ADAS) and autonomous driving (AV) company. It has its own hardware, like the EyeQ system-on-chip (SoC).

It has been quite a rollercoaster for the market. Mobileye first went public in 2014 and became the largest Israeli IPO in U.S. history before being acquired by Intel (INTC) in 2017 for $15.3 billion. It then got spun off in 2022. Intel took a significant stake as MBLY stock peaked above $45 but then traded sideways throughout 2023 before taking a nosedive.

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