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Chardan Capital Research Maintains Buy on Freight Technologies Inc., Lowers Price Target by $0.25 to $2.00

HOUSTON – Feb.28, 2023 – Freight Technologies, Inc. (Nasdaq: FRGT) (“Fr8Tech”), a technology company whose custom-developed Fr8App, an industry-leading freight-matching platform powered by AI and machine-learning that offers a real-time portal for B2B cross-border and domestic shipping within the USMCA region, announces that Chardan Capital Research, a leading investment and research firm, has maintained its buy rating on the company’s ordinary shares while lowering its price target by $0.25, from $2.25 to $2.00.

Freight Technologies Inc. is pleased to receive Chardan’s latest endorsement, which reflects the company’s ongoing efforts to expand its operations, improve its services and create value for its shareholders. Chardan Capital Research’s buy rating for Freight Technologies Inc. is an indication of continued confidence in the company’s potential for long-term growth and success in the transportation industry.

According to Chardan’s report, the adjustment in the price target is based on various factors, including changes in market conditions, and is also limited by temporary setbacks suffered with one of the company’s larger shipper clients. However, Chardan still maintains its buy rating for Freight Technologies Inc., a reflection of the investment firm’s opinion of the company’s strategy and medium-term potential.

“We are pleased to be able to share the results of Chardan’s independent analysis of our company’s growth and potential. Our focus on technology-driven solutions and outstanding customer service has allowed us to differentiate ourselves in the market, and we will continue to build on that success,” said Javier Selgas, CEO of Freight Technologies Inc.

“We remain committed to expanding our services, investing in our technology platform, and providing unparalleled customer service to our clients. We thank Chardan for their continued review of our company and look forward to delivering strong results for our shareholders,” concluded Selgas.

Despite the challenging market conditions, the company is well-positioned to deliver robust results for its stakeholders, and it appreciates the independent reviews of Chardan Capital Research.

About Chardan Capital

Chardan is an independent, full-service, global investment bank focused on bringing disruptive innovation to corporate and institutional clients. Chardan has established a leading SPAC practice with an 18-year history, having been involved in 120 SPAC IPOs with over $15 billion in transaction value, 47 business combination transactions with over $23 billion in transaction value, and 15 sponsored/co-sponsored SPAC transactions with over $1.4 billion in transaction value. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc.

About Freight Technologies

Freight Technologies (Nasdaq: FRGT) (“Fr8Tech”) is a technology company offering a diverse portfolio of proprietary platform solutions that incorporate AI and machine learning tools to optimize and automate aspects of the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the Fr8App platform for over-the-road (OTR) B2B cross-border shipping across the USMCA region; Fleet Rocket, a nimble, scalable and cost-effective Transportation Management System (TMS) for brokers, shippers, and other logistics operators; Fr8Radar, a GPS integration and shipment visibility module within Fleet Rocket that enables real-time tracking of in-transit freight across the U.S.-Mexico corridor; Zayren, an AI-based, pricing-prediction tool and carrier-matching platform designed specifically for cross-border and domestic OTR freight shipments across Mexico and the United States; and DODA Smart, an AI-assisted customs compliance platform to monitor, verify and trace Digital Customs Documents (DODAs) for trade operators in Mexico. Each product is interconnected within a unified platform to connect carriers and shippers and significantly improve matching and operational efficiency via innovative technologies such as live pricing, real-time tracking, digitization of critical documentation, brokerage support, transportation management, fleet management, and committed capacity solutions.

Forward-looking statements

This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections, and you should not rely on these statements as predictions of future events. These statements involve risks and uncertainties, most of which are outside the Company’s control and difficult to predict. Factors that may cause such differences are identified in the Company’s filings with the U.S. Securities and Exchange Commission. Freight Technologies cautions readers not to place undue reliance on any forward-looking statement, which speaks only as of the date made, and undertakes no obligation to update or revise any of them.

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