Bloomberg – Intel Analysts See Mobileye IPO Rush as a Bad Omen
Oct 19, 2022
The decision by Intel Corp. to push ahead with the initial public offering of its self-driving technology unit at a much lower valuation than originally envisaged may presage more trouble ahead for the market, analysts said. Intel was the worst performer in the Philadelphia Stock Exchange Semiconductor Index and the second biggest weight on the S&P 500 Index Tuesday, falling 2.1% after the company set terms for the highly anticipated IPO of Mobileye Global Inc.
“Investors should approach with caution and extra due diligence this and any new issues being sold to them in this environment,” said Jim Osman, founder of research firm The Edge Consulting Group. “There is a desperation trade about it.”