Why Mobileye Stock Skyrocketed Today
Mobileye (NASDAQ: MBLY) stock closed out Monday's trading with double-digit gains thanks to a pair of geopolitical and macroeconomic catalysts. The company's share price climbed 11.6% in a daily session that saw the S 500 and the Nasdaq Composite each gain 0.9%.
Investors bid up Mobileye stocks after Iran's retaliatory missile strikes on U.S. bases in Iraq and Qatar actually suggested a path for military activity to deescalate. Adding another bullish catalyst, a member of the Federal Reserve made comments suggesting that it's still possible that the central banking authority could lower interest rates next month.
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Source Fool.com
