The course of action of the Israeli Company of Driving Assistance Systems (ADAS) Mobileye Global Inc (Nasdaq: Mlybly) increased by 5.2% to Wall Street on Friday, giving a market capitalization of $ 12.655 billion, after information that hedge point72 asset management has a 5% stake in the company. However, the course of Mobileye’s action, based in Jerusalem, fell 1% in total during the week.
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Point72, managed by Steve Cohen, has 36.9 billion dollars under management. The value of Point72 participation in Mobileye, managed by the co -founder and CEO, Professor Amnon Shashua, is worth $ 78 million.
The entry of Point72 into Mobileye is considered positive. Mobileye held its IPO Nasdaq at the end of 2022 to $ 21 per share, after being acquired by Intel in 2017, which still has a majority participation in the company. The share price has more than doubled at $ 47 before falling back at its current $ 15.59 price. In 2024, the company’s income dropped by 20.4%, but Mobileye plans to resume growth this year.
Posted by Globes, Israel Business News – En.globes.co.il – March 9, 2025.
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