NEW YORK (TheStreet) -- Shares of Mobileye (MBLY)  are down 4.01% to $39.69 on heavy trading volume as its 180-day lockup period expired on Wednesday, Marketwatch reports.

The Israel-based developer of camera systems that help cars detect other vehicles and pedestrians, last week announced a secondary offering of common shares to offset the impact of investors rushing to sell shares with the lockup expiration, Marketwatch said.

Mobileye debuted in the U.S. market in August 2014 with an IPO price of $25 per share.

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About 3.41 million shares changed hands by 11:44 a.m. in New York, compared to the average of 1.37 million shares.

MBLY data by YCharts

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