Israeli chip manufacturer Valens Semiconductor (NYSE: VLN) bucked the strong falls on Wall Street on Friday with a 6.98% rise on a slightly above average trading volume. The company, led by CEO Gideon Ben-Zvi, develops semiconductors for the auto-tech and audio-video market. The rise was likely spurred by a report in "Barron’s" about agreements between activist investor Value Base, which holds a stake in Valens, which included the appointment of Tal Yaacobi to its board of directors. RELATED ARTICLES Valens Semiconductor cutting workforce by 15% Wall Street gives chipmaker Valens a cool reception Israeli chipmaker Valens completes SPAC merger After the rise Valens has a market cap of $241 million, well below the $1.1 billion valuation at which it completed its SPAC merger in 2021. Published by Globes, Israel business news - en.globes.co.il - on August 4, 2024. © Copyright of Globes Publisher Itonut (1983) Ltd., 2024.
