Foresight Autonomous (NASDAQ:FRSX) is seeing shares of FRSX stock soar higher on Wednesday despite a lack of news concerning the company.
The increase in price to FRSX stock comes alongside heavy trading of the shares this morning. As of this writing, some 58 million shares of the stock have changed hands. For comparison, the company’s daily average trading volume is only 4.65 million shares.
That’s not to say investors have no reason to take interest in Foresight Autonomous. The company announced earlier this month that it received a $1 million grant for the development of its sensor systems. It’s also been forming partnerships to further autonomous vehicle (AV) plans.
Foresight Autonomous has also been the target of speculation from some investors of late over a possible partnership with electric vehicle (EV) giant Tesla (NASDAQ:TSLA). Currently, some believe the company is making cameras used in the upcoming Cybertruck.
With the increasing interest in FRSX stock, investors will likely want to know more about the company. Fortunately, we can help with a quick overview of what it’s all about.
- Foresight Autonomous is a company dedicated to the creation of AV devices.
- This has it working on the design, development, and commercialization of sensor systems for self-driving vehicles.
- The company boasts that its QuadSight sensors are particularly effective at sensing objects in poor weather conditions.
- That includes “complete darkness, rain, haze, fog and glare.”
- Foresight Autonomous also mentions that it’s targeting the semi-autonomous and fully autonomous vehicle market with this sensor.
- The company was founded in 2001 and has raised a total of $18.8 million since its inception.
FRSX stock was up 39.4% as of Wednesday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.