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Freight Technologies Soars 14.72% on $20M Meme Coin Investment
Generated by AI AgentAinvest Movers Radar
Friday, May 2, 2025 6:44 am ET1min read
On May 2, 2025,
experienced a significant surge, rising 14.72% in pre-market trading.Freight Technologies has secured a $20 million convertible note facility to purchase Official Trump Tokens ($TRUMP). This strategic move is aimed at investing in the TRUMP meme coin, with an initial tranche of $1 million issued and $19 million remaining in capacity. The company's decision to invest in the TRUMP meme coin is driven by concerns over U.S.-Mexico tariffs and a desire to symbolically advocate for related issues.
The financing deal, finalized on April 29, involves the issuance of convertible notes through a facility with an institutional investor. This significant funding is expected to boost the company's share prices and enhance its financial position. The investment in the TRUMP meme coin aligns with Freight Technologies' broader strategy to leverage digital assets and blockchain technology to drive growth and innovation.
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