Why XPO Logistics Stock Was Jumping Today
Shares of XPO Logistics (NYSE: XPO), a global transportation company specializing in less-than-truckload shipping and freight brokerage, were climbing today after management announced it would split the company in half, breaking apart those two divisions and divesting from the company's remaining operations.
The move comes after XPO successfully spun off its contract logistics business, GXO Logistics, last August and investors applauded as GXO shares have climbed 30% since the stock started trading.
Today, XPO shares were up 13.6% as of 3:06 p.m. ET on the news.
Source Fool.com
