Foresight Autonomous Holdings is “nothing more than an aggressive stock promotion where insiders are siphoning cash to entities they control,” Fuzzy Panda Research claims in a short report published on the firm’s website. Foresight was “formerly controlled by a convicted felon before Kfir Silberman and Itschak Shrem took over. Shrem & Silberman are a duo of notorious penny stock promoters one of whom was arrested on suspicion of money laundering. The company is still under the influence of the duo who receive financial advisory fees and support from the current FRSX CEO,” the firm argues in its short report. “We are Short Foresight Autonomous (FRSX) and see material downside and expect this reverse-merger penny-stock promotion to collapse back to below $1,” the firm added. In pre-market trading, Foresight Autonomous shares are down 38c, or 8%, to $4.60.
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