TFII - Trucking stocks trade like a freight recession is already here

FreightWaves CEO Craig Fuller warned late in March that another trucking bloodbath is coming with analysis that continues to attract attention. "Inflation that began in 2020, combined with the surge in fuel prices related to increased inflation and the Russian invasion of Ukraine, have made consumers move to the sidelines," he warned. FreightWave analysts conducted channel and data checks which confirmed that spot rates and volume are falling fast. Digging into the data, the publication noted that tender rejections are the best indicator into real-time supply/demand in the truckload sector. The rejection rate with carriers has plunged to 13.9% from 18.7% at the beginning of March, meaning trucking companies have fewer options in freight to pick from. Trucking stocks trading lower on Monday include Yellow Corporation (YELL -3.0%), TFI International (TFII -3.4%), USA Truck (NASDAQ:USAK -1.3%), U.S. Express Enterprises (USX -3.3%), P.A.M. Transportation Services (NASDAQ:PTSI -2.5%), Covenant Logistics Group (NASDAQ:CVLG

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Trucking stocks trade like a freight recession is already here