FedEx (NYSE:FDX) stock fell 3.7% on Wednesday after it announced that it will no longer make ground deliveries for Amazon (NASDAQ:AMZN). But today, FDX stock resurges, climbing 5.8% in recent hours, and trading at $164.67 USD at the time of writing.
It has been a rocky few weeks for the deliveries giant; since the end of July, shares have lost over 8%.
FedEx Reacts: No longer Delivering for AmazonFedEx is no longer servicing Amazon on the ground because the shopping giant’s own delivery fleet has grown sizeably, becoming a threat to delivery companies. ...
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