Why Is Freight Technologies (FRGT) Stock Up 86% Today?


  • Freight Technologies (FRGT) stock is up on Thursday after announcing new customers and carriers.
  • It has added 26 new customers and 149 new carriers so far in 2024.
  • This has FRGT stock up this morning with heavy trading.
FRGT Stock - Why Is Freight Technologies (FRGT) Stock Up 86% Today?

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Freight Technologies (NASDAQ:FRGT) stock is rocketing higher on Thursday after the transportation logistics technology company provided an update to its customers and carriers in 2024.

According to a press release from Freight Technologies, it has added 26 new customers and 149 new carriers to its platform since the start of the year. The company says this extends its footprint across its core markets and services.

Among the new customers added in 2024 are Grupo Solave, Argos Electrica and Aqua-Aid. Freight Technologies says the additions enhance its U.S.-Mexico “cross-border spot services” and its dedicated capacity services.

Freight Technologies CEO Javier Selgas said this about the news:

“The addition of new customers to our platform further demonstrates the need for greater efficiency and transparency in the freight, over-the-road (OTR) marketplace. More and more companies are coming to expect a certain level of automation, speed, and reliability when securing their freight and logistics needs.”

FRGT Stock Movement Today

With this news comes heavy trading of FRGT stock. This has more than 175 million shares changing hands as of this writing. That’s a massive surge in trading over the company’s daily average of about 786,000 shares.

FRGT stock is up 85.7% as of Thursday morning. Even so, the stock is still down 68% year-to-date.

Investors looking for more of the most recent stock market stories today are going to want to stick around!

We have all of the hottest stock market news that traders need to know about on Thursday! That includes everything happening with shares of Nvidia (NASDAQ:NVDA), Core Scientific (NASDAQ:CORZ) and Salesforce (NYSE:CRM) stock today. You can read up on all of these matters at the following links!

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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