Israeli Tech Stocks Shine on Wall Street, While Auditi Tech and Gauzy Struggle to Gain Ground

The Israelis on Wall Street face chilly reception for new stock and one standout performer

In the last two trading days of the week, Wall Street saw few changes in its leading indices. The S&P 500 index ended down 0.1%, while the Nasdaq index lost 0.3%, and the Dow Jones index remained unchanged. Several Israeli stocks stood out during trading, with Auditi Tech’s stock jumping 20.5% on the Nasdaq on Friday in high trading volume.

Auditi Tech closed at a price of about $44.3, reflecting a company value of $2.5 billion. The company expects to generate revenues of $189 million in the second quarter, which is at the upper end of their previous forecast, with a gross profitability rate of 71%. The EBITDA is expected to be $60 million, compared to the previously forecasted range of $53-$56 million. Auditi Tech currently has $250 million in cash and investments and $100 million available on an undrawn line of credit, with no debt.

Gauzy, a smart glass manufacturer began trading on Nasdaq under the symbol GAUZ but weakened on its first two trading days after an offering price of $17 that reflects a value of $319 million for the company. Meanwhile, Mobileye soared on Friday by 15.6% in high trading volume without any report from the company reaching about $31.7. Mobileye is managed by co-founder Prof Amnon Shashua and analysts expect it to generate revenue of $1.89 billion this year.

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