Why FedEx Shares Dropped 14.1% in March Despite a Hint of Optimism
Shares of FedEx (NYSE: FDX) fell 14.1% in the month of March, according to data provided by S&P Global Market Intelligence.
The stock's graph, though, presents an incredibly interesting picture: FedEx fell sharply until March 17, when it reversed course just as swiftly to gain an eye-popping 27.7% through the end of March. So what's with FedEx's roller-coaster ride?
A lot happened in March, and it was a jumble. The U.S. government's $2 trillion stimulus package dissipated some of investors' fears about the impact of the COVID-19 pandemic on FedEx's operations, even as the company withdrew its 2020 outlook.
Source Fool.com
