Why is Foresight (FRSX) stock on the downturn in the pre-market session?

IMTE Stock
IMTE Stock

Would it be wise to continue on this path, and if so, how? Perhaps the shares of NASDAQ-‎listed Foresight Autonomous Holdings (FRSX) may provide a clue to the answer. ‎Even though the company has had no recent news — either good or bad –, it has fallen right ‎along the day. Foresight (FRSX) shares drowned more than 18% to $4.67 in the pre-market ‎session.‎

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‎However, the only relevant news to influence the company’s stock was published on ‎December16, 2020,that the automotive vision system will be developed through the ‎University of Michigan’sTechLab at Mcity 2021 startup cohort, managed by the Center for ‎Entrepreneurship, for use in advanced driver assistance systems and autonomous vehicles.‎

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Foresight’s team will study autonomous vehicle development and deployment along with ‎students from technical departments at the University of Michigan for one year. The team ‎will be supervised by Foresight’s Director of Algorithms as well as other leading team ‎members.‎‎

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‎By joining the program, ‎Foresight Autonomous Holdings (FRSX) will be able to use a test facility located in ‎the heart of the United States’ automotive hub and run short-cycle demos to local prospects. ‎Mcity’s test facility is designed to mimic real communities and highways and is geared ‎towards connected and automated testing.‎


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