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Down 61%, Is This Industry Disruptor's Stock a Buy Right Now?
GXO Logistics (NYSE: GXO) hit the public markets with much fanfare. The world's largest pure-play contract logistics company was spun off from XPO in August 2021, when the pandemic stock market was booming. Investors had high hopes that GXO would be able to disrupt the logistics industry with bold initiatives.The stock initially surged in 2021, but then fell sharply in 2022 and has stayed down since. Shares popped briefly last fall on news it was seeing takeover interest, but it gave up those gains once management said it was no longer in play.Amid worries over the trade war and signs of a weakening economy, the stock hit an all-time low recently, though GXO had some good news to share with investors when it reported first-quarter earnings last Wednesday.Continue reading
GXO Logistics (NYSE: GXO) hit the public markets with much fanfare. The world's largest pure-play contract logistics company was spun off from XPO in August 2021, when the pandemic stock market was booming. Investors had high hopes that GXO would be able to disrupt the logistics industry with bold initiatives.
The stock initially surged in 2021, but then fell sharply in 2022 and has stayed down since. Shares popped briefly last fall on news it was seeing takeover interest, but it gave up those gains once management said it was no longer in play.
Amid worries over the trade war and signs of a weakening economy, the stock hit an all-time low recently, though GXO had some good news to share with investors when it reported first-quarter earnings last Wednesday.
