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Freight Technologies Plunges 18.75% on Trump Token Purchase

Mover TrackerMonday, May 5, 2025 4:38 am ET

1min read

On May 5, 2025, freight technologies experienced a significant drop of 18.75% in pre-market trading, marking a notable decline in its stock value.

Freight Technologies, a U.S.-listed logistics tech firm, has announced an ambitious plan to purchase $20 million in Trump tokens. This move is aimed at boosting the company's crypto holdings and potentially influencing U.S.-Mexico trade policy. The decision reflects the company's strategic shift towards leveraging cryptocurrency to enhance its market position and operational capabilities.

The broader cryptocurrency market has shown mixed signals, with Bitcoin leading the charge and altcoins displaying varied performance. This volatility in the crypto market could have influenced investor sentiment towards Freight Technologies, contributing to the stock's decline. The company's decision to invest in Trump tokens aligns with the growing interest in cryptocurrency among high-profile figures, which could either attract or deter investors depending on their views on the political and economic implications of such investments.

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