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Why GXO Logistics Stock Popped Today

TheMotleyFool

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Why GXO Logistics Stock Popped TodayPhoto, wide shot, wide-angle lens, Heavy machinery, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/c15253b0-7330-4605-a666-66954eaf6715.png

Shares of GXO Logistics (NYSE: GXO) were surging today after Bloomberg reported last night that the world's largest pure-play contract logistics company was the subject of takeover offers. The news represents a surprising shift for GXO as the company is known as an acquirer, having made several acquisitions since being spun off from XPO in 2021.

The stock was up 14.4% on the news as of 12:36 p.m. ET.

Image source: GXO Logistics.

Source Fool.com

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