Hailo

Investment losses in the technology company Hailo continue to weigh on Delek Automotive's financial reports. To avoid breaching bank covenants, the company transferred 15 million Veridis shares to its subsidiary, Delek Motors.

Hailo and StreamElements, which raised a combined total of about half a billion dollars, were recently sold in fire sales. This reflects the collapse of the "growth at any cost" model in the Israeli high-tech sector.

The chip start-up Hailo, once considered a great promise and backed by investors like Idan Ofer, Gil Agmon, and Rakefet Russak-Aminoach, has been sold to Microchip. Globes revealed two weeks ago that the company would be sold for a pittance after carrying out aggressive layoffs.