Why Foresight Autonomous Holdings Jumped 20% Higher Today
Shares of Foresight Autonomous Holdings (NASDAQ: FRSX), a company specializing in the development of automotive vision systems, jumped as much as 20% higher Friday, before giving back much of those gains, after the company announced the signing of a joint proof of concept (POC).
Foresight announced on Friday the signing of a joint POC with an American subsidiary of a leading European auto manufacturer to test the former's stereoscopic technology abilities. The core idea is to see if Foresight's auto vision technology can enhance the vehicle manufacturer's existing active vehicle safety features without needing additional sensors or other infrastructure alterations. The joint venture will work in two phases. The first phase will be a simple feasibility test, and the second will be a simulation and real-life test.
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Source Fool.com
