HomeMarket NewsSmall Caps Mobileye Global Inc. Faces a Downturn: Reveals Flashy Decline in...

Mobileye Global Inc. Faces a Downturn: Reveals Flashy Decline in Revenue

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Shares of Mobileye Global Inc. MBLY plummeted sharply during Thursday’s session following the company’s announcement of preliminary FY23 financial results and initial 2024 guidance.

For the fourth quarter, the company anticipates revenue of $634 million-$638 million, which falls short of the expected $636.39 million. Additionally, it forecasts adjusted operating income of $241 million-$247 million, previously implied guidance was $623 million-$648 million in revenue.

Wolfe Research analyst Shreyas Patil downgraded Mobileye Global from Outperform to Peer Perform.

In light of the news, Mobileye Global shares nosedived by 23.5% to $30.37 on Thursday.

Here is a glance at some other stocks moving in the heart of Thursday’s frantic mid-day session.


  • Minim, Inc. MINM shares soared by 170.2% to $4.62.
  • Omega Therapeutics, Inc. OMGA surged by 92.7% to $5.26 after Novo Nordisk entered into a research collaboration with the company.
  • Avenue Therapeutics, Inc. ATXI underwent a 65.8% climb to $0.2920 after the company announced the finalization of an agreement with the FDA for the Phase 3 safety study for IV tramadol.
  • Jeffs’ Brands LtdJFBR took a 40% leap, reaching $4.41 after a 25% surge on Wednesday. Last month, Jeffs’ Brands signed non-binding letters of intent with Sky Growth Partners to invest in a DLP laser-based system for counter-drone solutions and laser-based wireless charging technology.
  • Mobix Labs, Inc. MOBX witnessed an impressive 33.3% gain, reaching $4.00. Mobix Labs was awarded a 15-month contract to supply EMI filtered connectors as part of the US Army’s M-1 Abrams Tank Program.
  • ATIF Holdings Limited ATIF jumped by 30.6% to $1.32.
  • Adicet Bio, Inc. ACET surged by 26.1% to $2.22. Adicet Bio issued corporate updates and highlighted upcoming priorities for its pipeline programs in 2024.
  • Smart for Life, Inc. SMFL experienced a 22.6% increase, reaching $1.9999.
  • XORTX Therapeutics Inc. XRTX rose by 21.7% to $2.97. Alliance Global Partners analyst James Molloy maintained XORTX Therapeutics with a Buy and raised the price target from $9 to $14.
  • Kintara Therapeutics, Inc. KTRA climbed by 20.1% to $0.1690 after a decline of over 11% on Wednesday. Kintara Therapeutics announced a review of strategic alternatives focused on maximizing stockholder value in the prior month.
  • QuantumScape Corporation QS gained 18.5% to $7.70.
  • The Arena Group Holdings, Inc. AREN shares rose by 16.8% to $2.44 after experiencing a fall of over 9% on Wednesday. The Arena Group Board terminated the employment of CEO Ross Levinsohn last month.
  • NuZee, Inc. NUZE gained 16.7% to $2.9999.
  • Keros Therapeutics, Inc. KROS experienced a 15.7% gain, reaching $47.72. This was a result of Keros Therapeutics pricing upsized $140 million public offering of 3.5 million common shares at $40 per share.
  • Dyne Therapeutics, Inc. DYN gained 14.6% to $16.92. Dyne Therapeutics announced an underwritten public offering of $175 million of common stock.
  • TMC the metals company Inc. TMC rose by 13.8% to $1.32.
  • MINISO Group Holding Limited MNSO gained 9.7% to $21.87.
  • Nikola Corporation NKLA rose by 8.4% to $0.8031. Nikola reported producing 42 and wholesaling 35 Class 8 Nikola Hydrogen Fuel Cell Vehicles for US and Canada customers in 2023.
  • Select Medical Holdings Corporation SEM experienced a 6.4% gain, reaching $25.00. Select Medical announced the potential separation of Concentra.


  • SELLAS Life Sciences Group, Inc. SLS shares declined by 36% to $0.58 after the company announced pricing of a $9.0 million public offering.
  • E-Home Household Service Holdings Limited EJH fell 33.2% to $0.9894.
  • OPKO Health, Inc. OPK shares dipped 28% to $1.0799. OPKO Health disclosed a private offering of Convertible Senior Notes due 2029.
  • Hitek Global Inc. HKIT tumbled by 25.2% to $0.77.
  • Relmada Therapeutics, Inc. RLMD declined by 24% to $3.44 after the company issued a corporate update.
  • Nemaura Medical Inc. NMRD dipped by 21.2% to $0.1009.
  • ABVC BioPharma, Inc. ABVC shares fell by 20.1% to $1.5395. ABVC BioPharma shares jumped over 60% on Wednesday after the company

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