Why GXO Logistics Stock Soared Higher This Week
GXO Logistics (NYSE: GXO) released its first quarterly report as an independent company, and investors liked what they heard. Shares of GXO traded up more than 10% for the week, as of midday Thursday, on excitement about the company's potential for growth.
GXO was spun out of XPO Logistics (NYSE: XPO) in August to give investors access to more of a pure-play supply chain management and warehousing company. GXO provides warehouse management, shipping, returns, and other services for a range of e-commerce and omnichannel retailers and other industries.
Robots operating at one of GXO's warehouses. Image source: GXO Logistics.
Source Fool.com
