FSRX recently turned 9% lower as profit-takers stepped in after the stock made big gains this week on successful trial results. Foresight Autonomous company is currently working on safe, self-driving vehicles. The Israeli-based company got a huge boost after they announced a successful trial of a cellular-based accident prevention product, with its subsidiary Eye Net mobile.
What really happened
Currently Foresight and Eye Net are working on protection of vehicles from oncoming collisions. They have recently tested their new project. The success rate of Eye Net have a ratio of 95.4%. This high success ratio indicates that the company got boost after issuing the statement of their successful trial.
There were also some major development that happened in the past which resulted into the growth of the company in the market, that will be discussed below.
a)- The company got allowance from the Chinese Patent officer for its “running vehicle alerting system and method,”. This technology allow and help to detect traffic light and signs. According to patent the Foresight will be able to avoid collision through stereoscopic camera-based object detection capabilities with the help of Eye-Net™ application.
b)- Similarly, the company also receive a notice of allowance from U.S Patent and Trademark Office in April 2019.
c)- The company even moved further and issued statement in the month of December that the FRSX will join the the University of Michigan’s TechLab at Mcity 2021 startup cohort. These announcements will advance and improve the FRSX even much better.
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Every new invention attracts investors and other firms. Currently, the company is getting a huge boost and getting attraction from various investors after they had done a successful trial of their project. In addition of this trial, the company joined various firms to enhance their capabilities and to launch their project successfully in the upcoming year. So far as the company is touching success peak in the market and will be hoping for even much better results in the upcoming years.