Freight Technologies shares are trading higher after the company announced Amazon Mexico renewed its selection of Fr8App for its logistical solutions.
Portfolio Pulse from Benzinga Newsdesk
Freight Technologies, Inc. (FRGT) shares surged following the announcement that Amazon Mexico has renewed its contract with the company for the use of Fr8App for logistics solutions.
December 14, 2023 | 2:20 pm
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POSITIVE IMPACT
Freight Technologies' stock price is likely to experience a positive short-term impact due to the renewal of its contract with Amazon Mexico for Fr8App.
The renewal of a contract with a major company like Amazon Mexico is a strong positive signal for Freight Technologies. It not only ensures continued revenue from a key customer but also serves as an endorsement of FRGT's Fr8App. This news is likely to boost investor confidence and could lead to a short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100