Why GXO Logistics (GXO) Stock Is Down Today [Yahoo! Finance]
GXO Logistics, Inc. (GXO)
Company Research
Source: Yahoo! Finance
The stock had previously gained double-digit gains on news of a potential sale. Additionally, CEO Malcolm Wilson's plans to retire in 2025 added to the uncertainty. The stock is now trading 18.9% below its 52-week high, and investors who bought at the IPO in 2021 have seen their investment decline in value. Shares of contract logistics company GXO (NYSE:GXO) fell 13.9% in the morning session after Bloomberg reported that the company turned down acquisition offers after exploring options in recent months. The stock recorded double-digit gains after Bloomberg first reported news of a potential sale. However, today's move indicates the market is adjusting its expectations, tempering enthusiasm around a possible acquisition. Separately, Chief Executive Officer Malcolm Wilson announced plans to retire next year (2025), creating additional uncertainty, which the market doesn't like. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quali
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GXO
News
- SAMSE Group and GXO join forces to optimize omnichannel logisticsGlobeNewswire
- GXO reaches new heights with extension for Guess [Yahoo! Finance]Yahoo! Finance
- GXO reaches new heights with extension for GuessGlobeNewswire
- Why GXO Logistics Stock Fell This Week [Yahoo! Finance]Yahoo! Finance
- GXO Logistics CEO to retire in 2025, shares down [Yahoo! Finance]Yahoo! Finance
GXO
Earnings
- 11/4/24 - In-Line
GXO
Sec Filings
- 12/4/24 - Form 8-K
- 11/14/24 - Form SC
- 11/5/24 - Form 10-Q
- GXO's page on the SEC website