Why Mobileye Stock Is Skyrocketing Today

Mobileye (NASDAQ: MBLY) stock is rocketing higher in Monday's trading. The machine vision specialist's share price was up 16.4% as of 1 p.m. ET amid a 0.6% increase for the S&P 500 index and a 1.1% gain for the Nasdaq Composite index.Mobileye's valuation is surging following a recent report from TechCrunch that signals a big win for the company. According to the report, Lyft will be launching self-driving taxis using Mobileye's technologies in the not-too-distant future.Lyft is reportedly gearing up to launch a robotaxi service built on Mobileye's tech as early 2026. The service is set to launch in Dallas as its first market, and there are plans to build a fleet of thousands of self-driving vehicles across multiple cities after the initial debut. The news signals a major vote of confidence in Mobileye's machine vision and autonomous vehicle technologies and could pave the way for major sales and earnings improvements. With the new Lyft report, some investors are betting that Mobileye's turnaround is starting to take shape. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool