ODFL - A Bull Market Is Coming: 3 Reasons to Buy Old Dominion Stock
Like many companies, Old Dominion Freight Line (NASDAQ: ODFL) faced challenges in 2022. Increased costs, as well as a slowing economy, impacted the trucking company's results for the year. Even still, the company's performance was impressive, and Old Dominion put up record results.
If the economy can avoid a recession, there's a chance we see a return to a bull market in 2023. If that happens, there are few companies in a better position to capitalize on that change in economic momentum than Old Dominion. Here are three reasons why.
It may seem surprising, but for an 89-year-old trucking company, Old Dominion is a pretty nimble business. Old Dominion anticipated its volumes increasing during 2022, but the reality didn't meet the company's expectations. One might assume that would mean weak results, but nothing could have been further from the truth.
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A Bull Market Is Coming: 3 Reasons to Buy Old Dominion Stock