The AI Effect: Layoffs and the Launch of Smart Agents That Sent Monday.com Soaring 80% from Its Low

Monday.com's stock surged 17.9% in the past week, completing an 81.1% recovery from its April low, driven by the launch of a voice AI agent platform and layoffs of 20% of its workforce. eToro closed at an all-time low of $23.92, ahead of expected lukewarm third-quarter reports. Mobileye also closed at a historic low of $6.54, amid CEO changes and conflicting analyst recommendations.

Monday.com's stock rose about 18% in the past week, completing an 81.1% recovery from its April low. The rise comes amid the launch of a voice AI agent platform for sales calls and the company's announcement of layoffs affecting 20% of its workforce (about 620 employees) as part of a shift to focus on AI products. The company is trading at a valuation of $4.5 billion, down from a peak of $19 billion in 2021. In contrast, eToro's stock closed at an all-time low of $23.92, a 54% decline since its IPO, ahead of expected lukewarm third-quarter reports. Mobileye also closed at a historic low of $6.54, amid planned CEO changes and conflicting analyst recommendations.