24/7 Market News Snapshot 09 December, 2024 – Freight Technologies, Inc. Ordinary Shares (NASDAQ:FRGT)

December 9, 2024

DENVER, Colo., 09 December, 2024 (247marketnews.com) – (NASDAQ:FRGT) are discussed in this article.
Freight Technologies, Inc. (FRGT) has initiated its trading day at $1.81 but is currently experiencing a notable decline, trading at $1.676, marking a fall of 10.26%. The previous day’s closing price was $1.520, reflecting recent market volatility. The trading volume has reached 1.42 million shares, indicating heightened investor interest. Analysts anticipate potential support around the previous close, while resistance may emerge near the opening price. The sharp drop in shares may indicate an overreaction in the market, warranting close monitoring for any signs of reversal or further weakness. Market sentiment and volume trends will be crucial indicators for FRGT’s short-term performance.

In a significant development for the company, Fr8Tech has been selected by Nestlé Mexico to enhance its domestic logistics operations utilizing the innovative Fr8App platform. Following a comprehensive evaluation of potential logistics providers, Nestlé Mexico has acknowledged Fr8Tech’s dedication to quality, safety, and operational efficiency, cementing their decision to collaborate. This strategic partnership underscores Fr8Tech’s robust capabilities in the logistics sector and showcases the Fr8App platform as an essential component in addressing Nestlé’s intricate logistical requirements.

Javier Selgas, CEO of Fr8Tech, expressed enthusiasm for this opportunity, highlighting the honor of being chosen to support Nestlé’s logistics needs. The two-year agreement aims to implement advanced freight-matching technology to optimize over-the-road shipments across various routes, thereby enhancing transportation efficiency. This collaboration is expected to fortify Fr8Tech’s position in a competitive market, demonstrating its commitment to innovation and excellence within the logistics management industry. As Fr8Tech continues to deliver interconnected logistical solutions powered by AI and machine learning, its partnership with Nestlé Mexico marks a pivotal milestone in its growth trajectory.

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