👉Freight Technologies stock soared 111% before plunging after-hours following bold crypto bet.
👉Freight Technologies (NASDAQ: FRGT), a small-cap logistics tech firm with a market valuation of just $4.8 million, is making headlines after announcing plans to invest up to $20 million in the Official $TRUMP Token (TRUMP). The company says the move is part of a broader effort to build a crypto treasury—and to support its goal of reshaping U.S.-Mexico trade relations.
👉FRGT shares surged over 111% on the news Friday, only to drop 21.6% in after-hours trading.
👉The Houston-based firm focuses on cross-border trade between the U.S. and Mexico and says it has secured the TRUMP token investment through a convertible note facility with an institutional investor. The first $1 million tranche has already been committed and will be used solely to acquire TRUMP tokens.
👉“We believe that the addition of the Official Trump tokens are an excellent way to diversify our crypto treasury, and also an effective way to advocate for fair, balanced, and free trade between Mexico and the U.S.,” said CEO Javier Selgas in an April 30 press release.
👉Freight’s plan appears to go beyond a financial bet on digital assets. Selgas said the firm aims to use the tokens as a strategic tool in advocating for more favorable cross-border trade terms—an unusual play that echoes former President Trump’s combative trade stance with Mexico.
👉The announcement follows the company’s previous $8 million investment in AI-linked FET tokens, which support its AI logistics platforms. Freight is now joining a growing list of publicly traded companies adding crypto to their balance sheets, including MicroStrategy, Semler Scientific, and Janover.
👉Yet the strategy is not without controversy. Trump recently confirmed plans to host a private dinner with top TRUMP token holders, sparking backlash from lawmakers. Sen. Jon Ossoff (D-Ga.) called the event a “clear case of selling access to the presidency,” raising concerns about influence and potential conflicts of interest.
👉For Freight, whose shares have fallen nearly 90% over the past year, the high-profile crypto play may also be a lifeline to revive investor confidence.
👉“At the heart of Fr8Tech’s mission is the promotion of productive and active commerce between the United States and Mexico,” Selgas added. “Mexico is the United States’ top goods trading partner.”
📢The $TRUMP token is currently trading at $12.70, up 0.1% on the day and 42% over the past month. $TRUMP
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