A Hacker Made a Mobileye Knockoff, But That's No Reason to Sell
- Deutsche Bank, Barclays defend stock against short sellers
- Mobileye nearly erases 2015 gains as bearish bets climb
This Hacker Built a Self-Driving Car in His Garage
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George Hotz’s claim that he built a driverless car in his garage is a Christmas gift for short sellers bent on crushing Mobileye NV’s stock.
The 26-year-old hacker boasted in a Bloomberg Businessweek article that he developed a cheaper alternative to Mobileye technology used by Tesla Motors Inc. and that Elon Musk offered him a “multimillion-dollar bonus with a longer time horizon that pays out as soon as we discontinue Mobileye.” Citron Research dubbed Mobileye its “Short of the Year,” sending the stock down 7.2 percent that day and wiping out this year’s gains.