Yahoo headline: Intel Slashes Valuation Of Mobileye IPO As Chipmakers Cut Outlook Citing Uncertain Macro Environment
Anusuya Lahiri
Tue, September 13, 2022 at 7:24 AM·1 min read
https://finance.yahoo.com/news/intel-slashes-valuation-mobil…
Intel Corp (NASDAQ: INTC) scaled back expectations for its Mobileye initial public offering amid a broader stock recession and could delay the share sale until 2023 from the prior mid of 2022, pending recovery, Bloomberg reports.
Intel expects the IPO to value the self-driving technology business at up to $30 billion, down from an initial valuation of over $50 billion.
$INTC daily chart (hit another 52-week low today)
$INTC weekly chart (last week’s “hammer” candlestick doesn’t predict what happened today. Still, four more days to go:
$INTC monthly chart