XPO - 1 No-Brainer Trucking Stock to Buy With $500 Right Now
2024-05-11 04:47:00 ET
$500 might not seem like much, but investing it in the right stock over a long period of time can turn even $500 into a substantial sum of money.
XPO (NYSE: XPO) , for example, jumped 1,460% in the 2010s, meaning it would have turned $500 into more than $7,000 in 10 years. The company has evolved significantly since then, spinning off the GXO Logistics contract logistics business and the RXO truck brokerage businesses, but XPO's recent earnings report showed why the stock continues to look like a no-brainer buy right now.
In a difficult logistics environment, XPO delivered strong results in the first quarter, posting 5.8% revenue growth to $2.02 billion, and 9% revenue growth in its core North American LTL (less-than-truckload) segment. The overall revenue number edged out expectations of $2.01 billion, but what was really impressive about the quarter was the company's bottom-line improvement.
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1 No-Brainer Trucking Stock to Buy With $500 Right Now