United Parcel Service (NYSE: UPS) delivered for investors in the fourth quarter, and the stock rallied as a result. Shares of the delivery giant were up as much as 17% for the week as of midday Thursday, after the company posted an earnings beat and raised its dividend.
UPS and other transportation companies rallied through the pandemic. The reliance on online shopping (and delivery) during lockdowns created added demand, and more recently, supply chain snags have led to strong pricing. UPS shares nearly doubled between the start of 2020 and the end of 2021.
Image source: United Parcel Service.
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Why Shares of United Parcel Service Surged Higher This Week