Company Crypto Gone Wrong? Trucking Company Stacking TRUMP Crypto Faces Major Losses

Freight Technologies will raise $20 million to buy TRUMP tokens. FRGT prices rallied before sinking. Will this ease U.S.-Mexico trade tension, or is it a bribe to win Donald Trump’s favor?

Rarely do stock prices surge by more than 100%. Three days ago, that’s exactly what FRGT stock did. Stock prices of the small logistics firm soared by over 150%, more than doubling from $1.20 to $3.42 yesterday.

(Freight Technologies stock price)

However, the gap was quickly filled during after-market hours earlier today, with FRGT inching lower, back below $2, and likely to lose all gains by the end of the week.

So, what triggered this “FOMO” on Nasdaq, driving FRGT prices to record highs in Q2 2025?

DISCOVER: 20+ Next Crypto to Explode in 2025

Freight Technologies to Stack TRUMP Meme Coin

“We believe that adding Official Trump tokens is an excellent way to diversify our crypto treasury and an effective way to advocate for fair, balanced, and free trade between Mexico and the U.S.,” Freight Technologies declared in a press release.

What’s more? They won’t be buying $1 million or $5 million worth of TRUMP tokens, but a staggering $20 million.

Funds will be raised from investors, and, similar to Strategy (former MicroStrategy), they will pour everything into TRUMP, aiming to make the meme coin the cornerstone of their digital asset strategy.

Interestingly, even with this announcement, TRUMP prices didn’t rise. In fact, the meme coin has been on a downtrend, losing over 50% of its gains from April 23.

TRUMP, one of the best Solana meme coins, has faced intense selling pressure, sliding from over $75 to around $7, a 95% drop.

This sell-off may explain why some critics believe the president could be misleading investors by using the TRUMP token as a vehicle.

“TRUMP coin is a scam, and its mere existence is embarrassing for all U.S. citizens,” one user posted on X. “We should expect better from our leaders.”

Whether the president, linked to the meme coin, is a “wolf in sheep’s clothing” remains to be seen. Many don’t care, and the president himself sees no issue, even promoting it on X.

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