Why The Shyft Group Stock Popped 14% Today
Shares of The Shyft Group (NASDAQ: SHYF), an automotive company specializing in the manufacture of commercial delivery vans, and particularly vans designed to facilitate e-commerce deliveries, soared a staggering 14.1% in Friday trading after Reuters reported that the biggest e-commerce company on the block is placing a big order with Shyft.
As Reuters explained, Amazon.com (NASDAQ: AMZN) is ordering 2,200 of Shyft's "Utilimaster" walk-in delivery vans. Indeed, according to the news organization, the order was apparently placed last year, and at least some of Shyft's trucks are already in Amazon's possession and have been "seen recently operating in Chicago."
Image source: Amazon.com.
Source Fool.com
