Freight Technologies Regains Nasdaq Compliance: A Path to Recovery

Freight Technologies, Inc. (Nasdaq: FRGT), a logistics management innovation company, has regained compliance with the minimum bid price requirement set by the Nasdaq Stock Market. This development is a significant milestone for the company, as it ensures its continued listing on the Nasdaq and allows it to maintain its public status.

The company had previously received a notice from Nasdaq on May 22, 2024, stating that it was not in compliance with the Minimum Bid Price Requirement. This requirement mandates that the closing bid price of a company's common stock must maintain a minimum bid price of $1.00 for 30 consecutive business days. To regain compliance, Freight Technologies was required to maintain a minimum closing bid price of $1.00 or more for at least 10 consecutive trading days.

Freight Technologies successfully achieved this requirement during the period from September 25, 2024, through October 8, 2024. This accomplishment demonstrates the company's commitment to meeting regulatory standards and maintaining its public status.

The reverse stock split, announced on September 23, 2024, was a strategic move by Freight Technologies to increase the per-share trading price and satisfy the Nasdaq's $1.00 minimum bid price requirement. This action reduced the number of outstanding shares from 35,844,999 to 1,433,800, effectively raising the per-share price.

The reverse stock split is expected to have several benefits for Freight Technologies, including increased liquidity, improved market visibility, and enhanced appeal to institutional investors. By regaining compliance with Nasdaq's listing requirements, the company has taken a significant step toward solidifying its financial position and ensuring its long-term growth.

In conclusion, Freight Technologies' successful regaining of Nasdaq compliance is a testament to the company's dedication to meeting regulatory standards and maintaining its public status. The reverse stock split, while potentially diluting the shareholder base, is a strategic move that aims to increase the company's per-share trading price and enhance its market position. As Freight Technologies continues to innovate and grow, investors can look forward to a promising future for the logistics management company.