It’s the classic case of, potentially, a better mousetrap. The company’s QuadSight system offers the ability “to detect any obstacle on the road and the ability to safely operate in even extreme weather and lighting conditions,” according to Foresight. That is why the shares of companies like Luminar Technologies (NASDAQ: LAZR) and Velodyne Lidar (NASDAQ: VLDR) have been surging.įoresight Autonomous takes a different approach, using cameras instead of lidar. But they have realized that demand for autonomous vehicles may exceed even the demand for electric vehicles.Ĭurrently, one of the tools that is used to give vehicles autonomy is lidar. On Foresight’s website, the company reports that “The QuadSight system is targeting the ADAS, semi-autonomous and full autonomous vehicle applications.”įor those not familiar with what’s occurring in the autonomous vehicle space, let me offer this brief and simplistic analysis: Many car companies are racing to electrify their vehicles. The story of Foresight Autonomous begins and ends with the autonomous-vehicle market. But you’ll want to keep your eye on FRSX stock because Foresight is worth watching. As a result, it might be best for investors to sit on the sidelines until a winner emerges. The bulls and the bears are playing tug-of-war with the stock. Since revenue was one of the missing pieces to the company’s puzzle, the trading community has seized on the announcement, even though the automaker involved in the pilot has not been named. In this case, Foresight Automation announced that it has a pilot project in place with a major global automaker. Since the beginning of the year, FRSX stock is up 181% because investors are buying the shares on a rumor.
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