Mobileye Global Stock Plummets After Revenue Warning

Shares of Mobileye Global dropped after the developer of autonomous driving technologies warned of a sharp fall in first-quarter revenue.

The stock was recently down about 28%, on pace for its worst day on record. It was up 28% over the past 12 months through Wednesday’s close.

Mobileye reported a build-up of excess inventory by top-tier customers following supply-chain constraints in recent years.

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