Why Shares of XPO Logistics Are Plunging Today
On Monday morning, shares of XPO Logistics (NYSE: XPO) opened down more than 40%, but there is no bad news to report. The company completed its long-awaited split in two, meaning half of the value is now represented in a different ticker.
Over the past decade, XPO has been a top-performing stock, but in recent years the company's valuation has lagged some rivals. In response, XPO late last year announced plans to split into two more pure-play companies focused on trucking and supply chain management.
Image source: XPO Logistics.
Source Fool.com
