Mobileye Bears Folding as Tighter Grip Seen on Driverless Future
- Short interest in Mobileye stock has plunged to 10-month low
- BMW using Mobileye tech to produce driverless car by 2021
A Mobileye system installed on a car.
Photographer: Carlos Osorio/AP PhotoThis article is for subscribers only.
Bearish bets against Mobileye NV are receding after the maker of chips and software for driverless cars said it would team up with BMW AG and Intel Corp. to deliver fully-autonomous cars by 2021.
Traders cut short interest on Mobileye, at one point the world’s most-shorted software stock, to 17 percent of shares outstanding last week, near the lowest level since September. It peaked at 22 percent on June 6. The stock has doubled since hitting a low of $24.54 in February.