Scalper1 News
The chairman of high-tech auto supplier Mobileye ( MBLY ) says the company has made deals with two automakers to create fully self-driving cars by 2019. The Wall Street Journal reported in an interview with Amnon Shashua late Thursday that 2019 will be an “inflection point” for the auto industry, as it shifts from semi-autonomous to fully autonomous vehicles. Shashua, who is also Mobileye’s chief technology officer, didn’t name the two automakers in question, but a number of companies have been working in the field, from traditional automakers like General Motors ( GM ) and Ford ( F ) to the electric-vehicle startup Tesla ( TSLA ), which Mobileye already supplies with driver-assistance technology. Mobileye stock was up 2% in early trading on the stock market today , near 37.50. After last week’s Q1 earning report , the stock retains its highest-possible IBD EPS Rank of 99, but its Accumulation/Distribution grade has been getting worse, now down to a D+, which indicates institutional investors are mostly selling, not buying, shares. Scalper1 News
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