MBLY - Why Autonomous Driving Software Company Mobileye Shares Are Shooting Higher Today | Benzinga
Mobileye Global Inc (NASDAQ:MBLY) shares are trading higher after it decided to wind down its aftermarket solutions unit that provides retrofitted advanced driver assistance technology.
The company said it took the decision after a thorough review of the unit’s business prospects and investment needs.
The demand and future addressable market for retrofitted ADAS solutions has declined since the automakers increased the rate at which integrated ADAS solutions are installed on new vehicles.
Thus, ...