Traders cut short interest on Mobileye as it establishes driverless tech
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New York
BEARISH bets against Mobileye NV are receding after the maker of chips and software for driverless cars said that 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 per cent of shares outstanding last week, near the lowest level since September. It peaked at 22 per cent on June 6. The stock has doubled since hitting a low of US$24.54 in February.
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