In these situations, it's always the smaller companies' stocks making stellar gains by the positive news, and it would be ginormous for Foresight as it is a microcap stock. In the past, we have seen that Apple's partnership with Hyundai ( OTC:HYMLF) was a catalyst for the Hyundai stock, whereas it didn't affect Apple. More importantly, Foresight can skyrocket if it comes up with a piece of big news, a partnership opportunity with one of the mega projects like the Apple Car (NASDAQ: AAPL). These partnership details are undisclosed as they are in the early stages, but they can fuel an upwards movement if a solid partnership comes out. Last but not least, Foresight made its first solid effort to enter the agriculture industry by selling a prototype of its QuadSight four-camera vision system to a global agriculture manufacturer. Moreover, Foresight announced that they had been chosen for a joint proof of concept project with an American subsidiary of a leading European passenger car manufacturer. Its wholly-owned subsidiary Eye-Net Mobile announced completing the first phase of its pilot trials of the accident prevention solutions with a top global vehicle manufacturer. In the last couple of months, Foresight announced a handful of partnership agreements, but there weren't any big names on the list. Rail Vision's IPO could ignite an upwards movement, but it is less likely as Foresight is the minor shareholder of the company. Moreover, Foresight's affiliate Rail Vision (19.36% owned) filed for the draft prospectus for an IPO in Tel Aviv Stock Exchange. The IPO market still has some fuel to burn, and if they can achieve a successful IPO, it can boost the stock price of the parent company. Recently Foresight announced that its wholly-owned subsidiary Eye-Net Mobile is planning to pursue a potential NASDAQ listing. As a result, the stock price rose to $12 per share with the hype of positive news flows and the EV surge, yet quickly plummeted as the news flow faded and the market sentiment changed.Īlthough I don't expect the company to turn profitable anytime soon (maybe never), we may see another price surge if exciting news resume flowing. However, it still couldn't create any value for its shareholders as the company is still in the R&D phase. The company is continuing its R&D operations and still making new partnerships to test and grow its business. Although I love what the company is trying to achieve, we haven't seen anything solid in the last six months. In my previous article about Foresight, I covered the business model of the company and its subsidiaries. This article will try to identify if there can be another stellar rally on the horizon as Foresight's subsidiaries are filing for IPOs, there are new partnership agreements on the pipeline, and regulatory changes for green transition may reignite the clean energy rally. In the past, we have seen that positive news flow can skyrocket the stock price as it is a company with minimal earnings but tremendous potential. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.Photo by metamorworks/iStock via Getty Imagesįoresight Autonomous Holdings (NASDAQ: NASDAQ: FRSX) had a tough time in the last couple of months as it is more than 65% down from its all-time highs in February 2021. The views and opinions expressed in this article are those of the authors, and do not represent the views of. Chart price data is provided by TradingView on a 15-minute delayed basis. Stock price data is provided by IEX Cloud on a 15-minute delayed basis. All other article data is provided by IEX Cloud on 15-minute delayed prices or EOD company info. Sources: Symbol info widget is provided by TradingView based on 15-minute-delayed prices. Also, don't forget to sign-up for the Daily Fix to receive the best stories to your inbox 5 days a week. For more news on the financial markets be sure to visit Equities News. To get more information on Foresight Autonomous Holdings Ltd - ADR and to follow the company's latest updates, you can visit the company's profile page here: Foresight Autonomous Holdings Ltd - ADR's Profile.
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