ODFL - Why XPO Stock Is in the Fast Lane Today
2023-04-20 12:18:34 ET
XPO (NYSE: XPO) just poached a key executive from one of its rivals. Investors in the trucking company are hitting the gas on the stock in response, with shares up 16.3% as of 11:58 a.m. ET.
XPO is a one-time transportation and logistics conglomerate that, after a number of spinoffs , is now primarily a provider of less-than-truckload (LTL) trucking services. LTL is the business of coordinating smaller shipments from multiple customers in a single truck.
LTL is lucrative if done right, but it can be complex and hard to do correctly. Historically, one of the best operators in the industry has been Old Dominion Freight Line (NASDAQ: ODFL) .
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Why XPO Stock Is in the Fast Lane Today