Shares of Israeli automotive sensor-maker Foresight Autonomous Holdings (NASDAQ: FRSX) were trading sharply higher on Tuesday. The company's stock has surged since it said last week that it has begun a pilot project with a major Japanese automaker.
As of 1:30 p.m. EST, Foresight's shares were up about 25.1% from Friday's closing price.
Foresight has two subsidiaries, both of which are focused on automotive future tech. The first, Foresight Automotive, focuses on machine-vision systems for vehicles; the second, called Eye-Net Mobile, is working to develop so-called V2X (for vehicle-to-everything ) technology. V2X systems allow vehicles to automatically sense and communicate with one another and with smart infrastructure, which in theory will help reduce collisions and traffic jams.
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Why Foresight Autonomous Holdings Stock Is Higher Today