Freight Technologies, Inc. announces a logistics contract with a global toy brand, enhancing its Fr8App platform services in Mexico.
Quiver AI Summary
Freight Technologies, Inc. (Fr8Tech) has announced a new logistics services contract with a major global toy brand, extending its use of the Fr8App platform for over-the-road logistics in Mexico, particularly during peak demand seasons. This agreement builds on Fr8Tech's reputation for reliable and cost-effective services, ensuring secure product transport in the Mexican market. CEO Javier Selgas highlighted the partnership as a significant endorsement of Fr8Tech's logistics innovations in a competitive global landscape. The company, based in Houston, offers a range of AI-powered solutions for optimizing supply chain processes, including Fr8App, Fr8Now, Fr8Fleet, and Waavely, all aimed at enhancing shipping efficiency across North America.
Potential Positives
- Fr8Tech has secured a new logistics services contract with a leading global toy industry brand, highlighting the company's ability to attract major clients.
- The Fr8App platform's proven track record for reliable and cost-effective logistics services supports the company's reputation in the industry.
- This contract will enable Fr8Tech to ensure secure and timely transport of products across the Mexican market, potentially boosting revenue and market presence.
- CEO Javier Selgas' remarks emphasize a strong endorsement of Fr8Tech’s innovative solutions, reinforcing investor confidence in the company's capabilities.
Potential Negatives
- Forward-looking statements include significant risks and uncertainties, indicating potential future challenges that may adversely affect the company’s performance.
- Details on potential challenges such as the inability to maintain Nasdaq listing and changes in laws could raise concerns about operational stability.
FAQ
What recent contract has Freight Technologies, Inc. signed?
Fr8Tech has signed a new logistics services contract with a leading global toy industry brand.
How does the Fr8App platform support logistics?
The Fr8App platform offers reliable, cost-effective OTR logistics services in Mexico, especially during peak demand periods.
What is the focus of Freight Technologies, Inc.?
Fr8Tech focuses on providing technology-driven solutions to optimize and automate the supply chain process.
Where is Freight Technologies, Inc. headquartered?
The company is headquartered in Houston, Texas.
What technologies does Fr8Tech utilize in its services?
Fr8Tech uses AI and machine learning for live pricing, real-time tracking, and to improve operational efficiency.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FRGT Hedge Fund Activity
We have seen 3 institutional investors add shares of $FRGT stock to their portfolio, and 2 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- TWO SIGMA INVESTMENTS, LP removed 47,594 shares (-100.0%) from their portfolio in Q3 2024
- HRT FINANCIAL LP removed 47,436 shares (-100.0%) from their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC added 12,244 shares (+inf%) to their portfolio in Q3 2024
- MORGAN STANLEY added 2,222 shares (+inf%) to their portfolio in Q3 2024
- UBS GROUP AG added 935 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
HOUSTON, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Freight Technologies, Inc. (Nasdaq: FRGT, “Fr8Tech” or the “Company”), a logistics management innovation company, offering a diverse portfolio of technology-driven solutions that address distinct challenges within the supply chain ecosystem, announced today that it has signed a new logistics services contract with a leading global toy industry brand.
The Company’s Fr8App platform has been providing over-the-road (OTR) logistics services across key shipment lanes in Mexico, particularly during peak seasonal demand periods. Building on the successful track record of reliable, cost-effective, and high-quality service, this new contract will ensure the continued secure and timely transport of the client’s products throughout the Mexican market.
Javier Selgas, CEO of Fr8Tech, said, "This strong endorsement from one of the world’s leading producers of children’s and family entertainment products, serves as a powerful validation of how the Fr8App platform innovates and sustains logistics support in the evolving global marketplace. We are proud to collaborate with this market leader and look forward to continuing our relationship for many years to come.”
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech") is a technology company offering a diverse portfolio of proprietary platform solutions powered by AI and machine learning to optimize and automate the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the
Fr8App
platform for seamless OTR B2B cross-border shipping across the USMCA region;
Fr8Now
, a specialized service for less-than-truckload (LTL) shipping;
Fr8Fleet
, a dedicated capacity service for enterprise clients in Mexico; and
Waavely
, a digital platform for efficient ocean freight booking and management of container shipments between North America and ports worldwide. Together, each product is interconnected within a unified platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, brokerage support, transportation management, fleet management, and committed capacity solutions. The company is headquartered in Houston, Texas. For more information, please visit
fr8technologies.com
.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Fr8Tech’s and Fr8App Inc.’s actual results may differ from their expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements.
These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Fr8Tech’s and Fr8App Inc.’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the inability to obtain or maintain the listing of Fr8Tech’s ordinary shares on Nasdaq; (2) changes in applicable laws or regulations; (3) the possibility that Fr8Tech or Fr8App Inc. may be adversely affected by other economic, business and/or competitive factors; (4) risks relating to the uncertainty of the projected financial information with respect to Fr8App Inc.; (5) risks related to the organic and inorganic growth of Fr8App Inc.’s business and the timing of expected business milestones; and (6) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Fr8Tech other filings with the Securities Exchange Commission.
Fr8Tech cautions that the foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Fr8Tech and Fr8App Inc. caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Fr8Tech and Fr8App Inc. do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
