10 Stocks That Investors Are Dumping

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1. Mobileye Global Inc. (NASDAQ:MBLY)

Mobileye Global dropped its share prices by 7.08 percent on Wednesday to end at $17.32 apiece as investor sentiment was dampened by Intel Corp.’s unloading of shares worth $900 million in the company.

In a statement, Mobileye Global Inc. (NASDAQ:MBLY) said that Intel Corp.’s subsidiary, Intel Overseas Funding Corporation, plans to sell 50 million MBLY Class A common shares at a price of $16.5 apiece for a total of $825 million.

It also granted its underwriters an option to purchase an additional 7.5 million shares for a total of $123.75 million.

If fully subscribed, the transaction would be worth a total of $948.75 million.

Meanwhile, Mobileye Global Inc. (NASDAQ:MBLY) said that it would buy back more than 6.2 million shares upon the conclusion of the share sale at a price per share equal to the per share purchase price to be paid by the underwriters in the offering.

Additionally, Intel expressed its intention to convert 50 million of its MBLY Common B shares to Common A shares, which it would hold at this time.

While we acknowledge the potential of MBLY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MBLY and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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