Shares of Israeli technology company Medigus Ltd. MDGS,
Pre-sale trading rose 44% on Friday, after the company said it has entered into a contract to expand its electric vehicle operations. The company has agreed to acquire intellectual property and experience that includes a patent for a wireless robotic charging pad for electric vehicles. “The new technology is a wireless charging system platform that can automatically align itself with a vehicle that requires electric charges,” the company said in a statement. pay $ 75,000 for the IP and patent and plan to invest up to $ 150,000 more to improve the technology.The stock closed Thursday at $ 2.30.The stock movement mirrors similar movements seen when companies make any announcements regarding EVs in recent trading.Tesla Inc. TSLA,
for example, has gained a staggering 780% in the last 12 months, and the S&P 500 SPX,
has acquired 17.5%.