Intel News: The Corporation Sold These Two Stocks.

Here is some Intel news. Intel has sold its stake in a company that makes on-demand video goods and reduced its stake in a company that makes flying automobiles.

In the second quarter, Intel (INTC) sold all of its Kaltura (KLTR) shares and reduced its interest in Joby Aviation (JOBY) by nearly a tenth. Among other things, Intel declared the trades in a document filed with the Securities and Exchange Commission.

Intel did not react to an inquiry about the investment adjustments.

Kaltura, which will go public in July 2021, is a digital platform that supports video town halls, webinars, virtual meetings and schools. Kaltura’s shares dropped 49% in 2022, matching Intel’s decline. Kaltura and Intel stocks both gained 23% and 27% in the first half of 2023, respectively.

Despite this Intel news, Intel sold its Kaltura stock in the second quarter. It possessed 2.5 million Kaltura shares at the end of the first quarter.

Joby went public in August 2021 after combining with a SPAC, or special-purpose acquisition company. It works on an all-electric vertical take-off and landing aircraft, or eVTOL. Joby acquired a special airworthiness permit from the Federal Aviation Administration in late June, allowing it to begin testing its prototype eVTOLs.

Joby’s stock soared as a result of the approval. It gained 200% in the first half of 2023. In 2022, shares had fallen 54% as investors lost interest in firms that had gone public through SPAC mergers.

Intel sold 3.6 million Joby shares in the second quarter, bringing the total to 36.8 million.

As August begins, Intel’s stock sales appear prophetic. Kaltura stock has dropped 7% since the end of the second quarter, while Joby stock has dropped 15%. Meanwhile, Intel’s stock has risen 7%.