MAY 7, 2024 JLM 60°F 07:54 PM 12:54 PM EST
Israeli company Mobileye soars after its Nasdaq debut

The share price rose 38% to $28.97 on the first day of trading, giving the company a market capitalization of $23.068 billion.

JNS reports that Mobileye Global (Nasdaq: MBLY), an Israeli self-driving car and advanced driver-assistance systems unit, had a lucrative Wall Street debut Wednesday.

Mobileye returned to Wall Street after five and a half years as an Intel-owned private company. The IPO (initial public offering) was the largest on Wall Street this year, making it the most valuable Israeli company, easily surpassing Check Point Software Technologies (Nasdaq: CHKP), valued at $14.6 billion.

Source - JNS/Twitter - Image - Reuters

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