Mobileye (MBLY) Stock Gains After NTSB Report

NEW YORK (TheStreet) -- Shares of Mobileye (MBLY) gained 5.1% to $48.02 on heavy trading volume on Tuesday after the National Transportation Safety Board (NTSB) called for car manufacturers to make collision avoidance systems standard in new vehicles.

In a report on Monday, the NTSB outlined the benefits of collision avoidance systems and recommended that they become standard on all new passenger and commercial vehicles. The report said more than 80% of all deaths and injuries that come as a result of rear-end crashes might be mitigated if the vehicles involved were equipped with the systems.

"You don't pay extra for your seatbelt," NTSB Chairman Christopher A. Hart said in a statement. "And you shouldn't have to pay extra for technology that can help prevent a collision altogether."

Mobileye develops vision-based advanced driver assistance systems that can provide warnings for collision prevention.

About 4.9 million shares of Mobileye were traded in normal trading hours, above the company's average trading volume of 2.3 million shares a day.

MBLY ChartMBLY data by YCharts

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