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ODFL - Why Old Dominion Stock Is Decelerating Today
Old Dominion Freight Line Inc.
2024-06-06 11:19:34 ET
Trucking company Old Dominion Freight Line (NASDAQ: ODFL) is seeing an uptick in activity, but not quite at the levels that investors had hoped.
Shares of Old Dominion traded down about 4% as of 11 a.m. ET following the company's mid-quarter business update.
Old Dominion and other truckers have been moving in the wrong direction of late. The company's shares are down 25% from their 2024 highs due to soft demand. Shipping customers are worried about the health of the U.S. economy and are trimming inventories as a result.