Freight Technologies Wins Samsung Mexico SDS Business, Shares Soar
2022.07.26 15:54
Freight Technologies (FRGT) Wins Samsung Mexico SDS Business, Shares Soar
By Vlad Schepkov
Shares of Freight Technologies (NASDAQ:FRGT) are gaining close to 50% in heavy premarket trading, after the company announced it was awarded Samsung Mexico SDS business and has begun using its platform to assist with effecting Samsung’s (KS:005930) shipments from Mexico to the United States.
Javier Selgas, CEO of Fr8 Tech, commented: “Samsung, one of the world’s largest producers of electronic devices, selected Fr8App to ship from Mexico cross border to the United States, which we believe validates the Fr8App platform. We believe this is just the beginning of many great things to come.”
Investors were quick to take note – the company’s stock is soaring into uncharted territory, past its prior all-time-high of $1.86, and is currently hovering above $2.20 in heavy trading.
FRGT closed at $1.48 yesterday.
