2023-06-18 09:07:30 ET
At a time when artificial intelligence (AI) has captivated the market, investors might overlook the business of contract logistics, or receiving, holding, and shipping goods. But that doesn't mean that there aren't opportunities in the sector.
One of the most attractive right now is GXO Logistics (NYSE: GXO) . It's the world's largest pure-play contract logistics company, with nearly 1,000 high-tech warehouses around the world. The company is nearly two years old now, spun off from XPO Logistics in August 2021 to streamline both businesses so the market could value them accordingly, rather than as a combined conglomerate.
GXO took that mandate and ran with it, acquiring Clipper Logistics, a U.K.-based contract logistics company, last year in part to further its expansion into Europe. The company just made what might be its biggest move in that arena so far, announcing a new expansion in Germany, Europe's biggest logistics market.
For further details see:
This Growth Stock Is Diving Into a Major New Market. Time to Buy?