In a groundbreaking move that is set to redefine the logistics landscape, Freight Technologies, a technology-driven logistics company, announced today that Amazon Mexico has once again chosen its proprietary AI and machine learning platform, Fr8App, for its logistical solutions. This strategic decision by Amazon Mexico has triggered a remarkable surge in Freight Technologies’ stock, underscoring the pivotal role Fr8App plays in navigating the complexities of cross-border shipping and domestic logistics within the USMCA region.
The announcement sent shockwaves through the stock market as Freight Technologies opened trading at an astonishing $1.20, a substantial leap from the previous day’s closing price of $0.27. This surge highlights the significance of the renewed partnership and the market’s acknowledgment of the value Fr8App brings to the high-demand logistics sector.
At the time of this publication, Freight Technologies Inc stock (FRGT) has witnessed a surge.
Freight Technologies Inc
Current Price: $0.92
Change : +0.64
Change (%): (229.16%)
Volume: 160.2M
Source: Tomorrow Events Market Data
Amazon Mexico’s decision to continue relying on Fr8App for the second consecutive year speaks volumes about the platform’s reliability and efficiency. Fr8App has successfully facilitated the movement of over 670 cargo loads between Amazon’s distribution centers, contributing significantly to maintaining a seamless flow of goods across the country during peak demand periods.
Javier Selgas, CEO of Freight Technologies, expressed his enthusiasm about the renewed collaboration, stating, “Our commitment to meeting customer needs and continuous platform improvements have led to this exciting opportunity. Amazon’s choice to employ Fr8App during their high-demand season validates our capabilities and establishes us as the preferred logistics solution for B2B cross-border and domestic shipping within the USMCA region. We look forward to collaborating with a market leader like Amazon and are confident in our ability to meet their stringent standards as they continue to expand.”
The impact of Amazon Mexico’s decision is evident in the heavy trading activity surrounding Freight Technologies’ stock on Thursday. Over 160 million shares have changed hands as of the latest update, a stark contrast to the daily average trading volume of approximately 267,000 shares. This surge in trading reflects the heightened investor interest and confidence in the company’s prospects following the pivotal partnership announcement.
Freight Technologies’ stock performance has been on a remarkable upward trajectory in recent days, with gains of 219.31% over the past five days, 174.51% in the last month, and 146.08% over the past three months. Despite a year-to-date decrease of -59.90% and a one-year decline of -63.20%, the recent surge in stock value underscores the positive sentiment surrounding the company’s future.
As Freight Technologies continues to solidify its position as a leader in technology-driven logistics solutions, the renewed partnership with Amazon Mexico serves as a testament to the company’s commitment to excellence and innovation in the rapidly evolving logistics industry. Investors and industry observers will undoubtedly be closely monitoring the developments as Freight Technologies navigates the challenges and opportunities of the dynamic logistics landscape.
