Freight Technologies, Inc. to Support the Largest Industrial Electric Motor Manufacturer in the Americas – Yahoo Finance
A global solutions provider, embraces Fr8App’s Technology
HOUSTON, Dec. 29, 2022 (GLOBE NEWSWIRE) — Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology company whose custom-developed Fr8App platform is powered by AI and machine-learning and offers a real-time portal for B2B cross-border shipping and domestic shipping within the USMC region, now supports cross-border logistics requirements for a global electric-electronic equipment company with eighteen different factories and distribution centers across the US and Mexico.
Fr8Tech CEO Javier Selgas said, “It is important for us to understand and satisfy our clients’ goals, and we are very pleased to deliver a solution that truly meets our clients’ multinational needs. We are pleased to be selected by the largest industrial electric manufacturer in the Americas for intelligence and logistics management. Our Fr8App platform represents a choice for businesses that require cost-effectiveness, efficiency and reducing administrative burden. We are confident that our Fr8App platform will provide solutions to a number of multinational clients and shippers for many years to come.”
About Freight Technologies Inc.
Freight Technologies (Nasdaq: FRGT) (“Fr8Tech”) is a technology company developing solutions to optimize and automate the supply chain process. Its wholly owned subsidiary, Freight App, Inc. (Fr8App), is a B2B cross-border shipping marketplace in the USMC region powered by AI and machine learning. Focused on making shipping transparent and efficient, 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. Fr8App uses its proprietary technology 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, broker, 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. Freight Technologies’ and Fr8App’s actual results may differ from their expectations, estimates, and projections and, consequently, you 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 include, without limitation, Freight Technologies’ and Fr8App’s expectations with respect to future performance and anticipated financial impacts of its acquisition of Fr8App.
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 Freight Technologies’ and Fr8App’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the impact of the COVID-19 pandemic on Fr8App’s business; (2) the inability to obtain or maintain the listing of Freight Technologies’ ordinary shares on Nasdaq; (3) the ability to recognize the anticipated benefits of the merger, which may be affected by, among other things, competition and the ability of Fr8App to grow, manage growth profitably and retain its key employees; (4) costs related to the merger; (5) changes in applicable laws or regulations; (6) the possibility that Freight Technologies or Fr8App may be adversely affected by other economic, business and/or competitive factors; (7) risks relating to the uncertainty of the projected financial information with respect to Fr8App; (8) risks related to the organic and inorganic growth of Fr8App’s business and the timing of expected business milestones; and (9) other risks and uncertainties identified, including those under “Risk Factors,” to be filed in Freight Technologies’ other filings with the SEC. Freight Technologies 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. Freight Technologies and Fr8App caution readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Freight Technologies and Fr8App 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.
Related Quotes
Freight Technologies Inc (NASDAQ: FRGT) now supports cross-border logistics requirements for a global electric-electronic equipment company. The equipment company has eighteen different factories and distribution centers across the U.S. and Mexico. "We are pleased to be selected by the largest industrial electric manufacturer in the Americas for intelligence and logistics management," said CEO Javier Selgas. "Our Fr8App platform represents a choice for businesses that require cost-effectiveness,
Are you on the upper rungs of the class ladder?
In this article, we discuss the 10 best high-risk high-reward stocks to buy now. If you want to skip our discussion, you can go directly to the 5 Best High-Risk High-Reward Stocks to Buy Now. The year 2022 has been unkind toward hypergrowth investments. According to Ethan Harris, head of global economics research at Bank […]
Portfolio concentration is a big reason the Oracle of Omaha has outperformed for more than a half-century.
Democrats released six years of Donald Trump’s income-tax returns on Friday, providing further insight into the former president’s tax situation. Trump and his wife, Melania, paid $0 in income taxes for 2020, according to a report released late Tuesday by the congressional Joint Committee on Taxation. The nonpartisan committee’s findings also raised several red flags related to the filings, namely Trump’s carryover losses, loans to his children that may or may not also be considered taxable gifts, and deduction-related tax write-offs.
Big tech took a big fall during 2022. Now's the time to pick up the pieces with Intel and Apple.
Hydrogen fuel cell truck making start-up Nikola (NASDAQ: NKLA) announced plans this morning to raise cash by selling up to $125 million in senior convertible notes (i.e., debt that is convertible into common stock). Nikola stock tumbled 4.8% through 11 a.m. ET on the news. Nikola plans to sell $50 million worth of convertible notes today, but will collect only $46.5 million of that after expenses.
The past two years have been brutal for Cathie Wood and the Ark Invest family of exchange-traded funds that she runs, but she's been going on a buying spree as 2022 comes to a close. Tesla (NASDAQ: TSLA), Roblox (NYSE: RBLX), and DraftKings (NASDAQ: DKNG) are three of the existing Ark Invest positions that Wood added to yesterday. Tesla began offering buyers that took possession of a new Model 3 or Model Y before year's end a $3,750 price reduction earlier this month.
Roth Capital Analyst Craig Irwin joins Yahoo Finance Live to discuss Tesla’s stock, the state of the EV industry, EV production, the Inflation Reduction Act, and the outlook for Tesla moving into 2023.
Being patient doesn't always pay off.
Take AT&T (NYSE: T), for example. The telecom giant has long been popular for its high dividend yield, but its stock performance has been consistently underwhelming. While AT&T's dividend has saved it from negative returns over the last decade, it trails the S&P 500 index significantly as well as its rivals Verizon and T-Mobile.
Business magnate Warren Buffett is widely regarded as one of the greatest investors of the modern-day world. His seemingly unmatched and consistent value-investing strategies have earned him the title of Oracle of Omaha. Many of his investing strategies are known, but there is one that is often overlooked yet incredibly important. It’s a lot more prevalent in the startup investing world — one customer can mean all the difference for a startup but not necessarily for public companies. What happen
A key facility the Federal Reserve uses to help control short-term interest rates saw record inflows on Friday, the final trading day of the year. The New York Fed said that its reverse repo facility took in $2.554 trillion in cash from money market funds and other eligible financial firms, besting the prior high water mark seen on Sept. 30, when inflows totaled $2.426 trillion. On those dates, for a variety of reasons, many financial firms prefer to park cash at the central bank rather than in private markets.
Ares Commercial Real Estate Corp. (NYSE: ACRE) is a mortgage real estate investment trust (mREIT) now going for just 78% of book value. The Atlanta-based mREIT’s market capitalization comes to $586 million, a relatively small figure for a New York Stock Exchange-listed real estate investment trust. Funds from operations (FFO) are up by 115% this year and the past five-year FFO results increased by 9.3%. Bank of America Securities issued a Buy on Ares in October with a price target of $13. The mR
Though the majority of publicly-traded real estate investment trusts (REITs) have been recovering over the past two months, the Federal Reserve’s hawkish stance combined with the macroeconomic uncertainties raise questions regarding their latest upswing. Following the slightly hotter-than-expected inflation data released earlier this month, the Federal Reserve will likely keep up its aggressive rate hikes in 2023, which might wipe out recent gains. This comes as Fed Chair Jerome Powell stated in
The cloud has emerged as one of the more transformational technologies of the current era. Alphabet, like Amazon and Microsoft before it, approached the cloud as a second act. All three tech giants pivoted to the cloud to either supplement or compensate for slowing growth in original business lines.
The penultimate trading day of 2022 brought a sigh of relief for investors in shares of Enovix (NASDAQ: ENVX), QuantumScape (NYSE: QS), and ChargePoint Holdings (NYSE: CHPT). As of 11:45 a.m. ET Thursday, while QuantumScape and ChargePoint stocks were trading 6.3% and 7.2% higher respectively, Enovix stock was up a solid 13.7%. This morning, the U.S. Department of Labor reported only a marginal increase in the filings for unemployment insurance for the week ending Dec. 24.
After a "stay away" past year, the stock market enters 2023 in a correction. But there will be opportunities. Q4 deliveries are on tap from Tesla and China EV rivals.
Yahoo Finance Live anchors Seana Smith and Jared Blikre look at consumers' biggest New Year's resolution commitments and what Yahoo Finance readers are predicting for the market and stocks in 2023.
To get a sense of who is truly in control of ZIM Integrated Shipping Services Ltd. ( NYSE:ZIM ), it is important to…