Shares of United Parcel Service (NYSE: UPS) have sputtered through most of 2022, weighed down by concerns about a slowing economy. But upbeat comments from its arch rival, coupled with a well-timed analyst upgrade, provided a lift to the stock last month.
Shares of UPS gained 13.1% in November, according to data provided by S&P Global Market Intelligence , on investor hope that the worst is behind us.
This is a tough market for a global transportation company . Efforts in the U.S. and overseas to battle inflation are showing signs of slowing the global economy, which would lead to less demand for logistics and shipping services. Shares of UPS had lost about 25% of their value in 2022 heading into November.
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Why United Parcel Service Delivered for Investors Last Month