Tue. Jun 25th, 2024
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 little change in the leading indices. The S&P 500 index ended down 0.1%, while the Nasdaq index lost 0.3%. However, several Israeli stocks stood out in trading, with Auditi Tech jumping 20.5% on the Nasdaq on Friday and closing at a price of about $44.3, reflecting the company’s value of $2.5 billion.

In Q2, Auditity expects revenues of $189 million, at the upper limit of their forecast, with a gross profitability of 71%, similar to their previous forecast. The EBITDA will be $60 million compared to their previous forecast of $53-$56 million. In Q2, they expect a Non-GAAP net profit of 69 cents per share compared to their original forecast of 61-64 cents per share. Auditity 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 in its first two trading days after its offering price was set at $17, valuing the company at $319 million. Mobileye stock soared on Friday by 15.6% in high trading volume without any report from the company and is expected to post revenue of $1.89 billion this year under co-founder Prof Amnon Shashua’s management.

On gambling and online casino sites, various content is presented discussing topics such as slots, table games sports betting legal issues and news within the industry are all covered in different articles.

Overall Wall Street saw little change in leading indices during last two trading days while Israeli stocks stood out in trading with Auditi Tech experiencing significant growth while Gauzy struggled to maintain its value post IPO and Mobileye soaring without any news from the company.

In Q2 auditity expects revenues to reach $189M with gross profitability at around 71%, EBITDA at $60M and Non-GAAP net profit per share at 69 cents which is higher than their previous forecasts.

Gambling and online casino sites cover a wide range of topics including slots table games sports betting legal issues and news within the industry which can be found in different articles.

Overall it seems that Israel stands out as one of countries that have more active stock market activity than other countries especially when it comes to tech companies that are growing rapidly or struggling after IPO like Gauzy or Auditi Tech respectively.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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