Shares of Freight Technologies, Inc. (FRGT) surged over 65% on Tuesday morning after the logistics management innovation company announced the launch of its advanced AI Tendering Bot, which is designed to automate and streamline the load tendering process for shippers and freight brokers.
FRGT is currently trading at $1.6901, up $0.6701 or 65.6961%, on a huge volume of 21 million shares, compared to average volume of 139 thousand, on the Nasdaq. The stock opened its trading at $1.1900 after closing Monday at $1.0200. The stock has traded between $1.0300 and $43.5000 in the past 52-week period.
The company said that the launch reinforces its commitment to operational improvements and efficiencies through new technology to reduce operating costs for both Fr8Tech and its enterprise clients.
After successfully pilot testing with several clients, the AI Tendering Bot has proven its accuracy and reliability. It is now fully integrated also with Fleet Rocket, Fr8Tech's cutting-edge Transport Management Systems (TMS) solution for brokers.
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