Why FedEx Stock Jumped 13% in November
FedEx (NYSE: FDX) sent investors scrambling for the exits back in September, with the shares losing one-quarter of their value in a single trading day after the transportation giant warned a global economic slowdown was taking its toll.
In November, FedEx said the restructuring plan put in place in response to the slowdown was proceeding as planned. The stock reacted by recovering some of what was lost previously, climbing 13.7% in November, according to data provided by S&P Global Market Intelligence.
FedEx by its nature is closely linked to the health of the global economy. Demand for transportation services declines during a slowdown. Still, investors were caught off guard by how quickly the environment changed over the summer, leading to the oversize stock sell-off.
Source Fool.com
