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.
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.
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.
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.