Mobileye (MBLY) Stock Is Down 20% as Demand Weakens. What's Going On?
MBLYMobileye (MBLY) Investor Place·2024-08-02 00:06

Mobileye (NASDAQ:MBLY) is one of the top-trending tickers on social media and business news websites, and MBLY stock is down about 20% today. The selloff was triggered by the firm’s announcement of a reduction in its 2024 revenue guidance.On a positive note, Mobileye noted that its revenue had soared 84% last quarter compared with the first quarter.Mobileye’s Guidance ReductionsMobileye cut its 2024 sales guidance to 1.6billionto1.6 billion to 1.8 billion from 1.83billionto1.83 billion to 1.96 billion.China’s automakers have re ...