Freight Technologies Enacts 1-for-5 Reverse Split to Protect Nasdaq Listing

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2026.05.13 13:28
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Freight Technologies, Inc. (FRGT) has announced a 1-for-5 reverse stock split, effective May 18, 2026, to meet Nasdaq's $1.00 minimum bid requirement. This move will reduce outstanding shares from approximately 2.86 million to about 0.57 million while keeping total authorized shares unchanged. The company aims to enhance its stock price and maintain its Nasdaq listing. However, Spark's AI Analyst rates FRGT as an Underperform due to declining revenue, significant losses, and a bearish technical trend. Freight Technologies focuses on AI-driven logistics solutions for supply chain efficiency in the USMCA region.