FDX - FedEx Stock Soars to New Peak. Here's Why I'm Doubling Down
2024-07-21 09:30:00 ET
FedEx (NYSE: FDX) recently hit its all-time high, but it's not too late for investors to buy this bellwether stock. The freight and parcel delivery powerhouse operates in a highly competitive environment, and it's prone to economic cyclicality. However, the company delivers reliably strong financial results and impressive efficiency metrics. Investors can own a great company without breaking the bank.
FedEx stock is up more than 20% year to date, pushing it within a dollar of its $315.59 all-time high, set in 2021. Investors should be wary of stocks streaking to all-time highs based purely on speculation and runaway valuation ratios. Gains in those scenarios are based solely on investor sentiment, which can be fickle and subject to rapid change.
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FedEx Stock Soars to New Peak. Here's Why I'm Doubling Down