Why Freight Technologies Shares Are Surging Today?

Shares of Freight Technologies Inc FRGT are soaring after it announced the execution of a contract with Kawasaki Motores de Mexico for cross-border logistics services.

Kawasaki Motores de Mexico, a division of Kawasaki Heavy Industries, Ltd, has gained expertise in the construction of transportation systems.

As part of the contract, Fr8App is orchestrating the cross-border logistics for Kawasaki's Jet Ski models, showcasing the platform's adaptability and efficiency in handling diverse transportation requirements.

"We believe that by securing a contract with Kawasaki Motores de Mexico, we also gain a chair at the table for a broader set of opportunities with many of the Kawasaki companies across North America," said CEO Javier Selgas.

Freight's wholly owned subsidiary, Freight App, Inc. (Fr8App), is a B2B cross-border shipping marketplace powered by AI and machine learning in the USMCA region. 

 Fr8App provides carriers with increased growth opportunities and shippers with flexibility, visibility and simplicity for the once-complex process of international over-the-road (OTR) shipping.

Price Action: FRGT shares are trading higher by 11.3% at $0.38 on the last check Tuesday.