Why Forward Air Stock Advanced in June
Long-suffering shareholders of Forward Air (NASDAQ: FWRD) got a boost in June following reports that an activist investor is building a stake in the transportation and logistics company.
Shares of Forward spiked nearly 20% on the news and finished June up 13.3%, according to data provided by S&P Global Market Intelligence.
Forward is an asset-light transportation company, providing connections between customers in need of shipping services and providers of those services. The company has been under pressure due to a controversial decision late last year to acquire Omni Logistics, a deal that raised objections about price and fit.
Source Fool.com
