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Why QXO, Inc. Fell Over 20% in July

TheMotleyFool

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Why QXO, Inc. Fell Over 20% in July: https://g.foolcdn.com/editorial/images/882717/gettyimages-2167986788-1.jpg

Shares of QXO, Inc. (NYSE: QXO) fell 23% in July, according to data from S&P Global Market Intelligence.

QXO didn't report earnings during the month, but it did close on the acquisition of TopBuild on July 1.

QXO is executing a roll-up strategy to consolidate the building-products distribution business under CEO Brad Jacobs and his team, so acquisitions are a core part of QXO's game plan. Yet while TopBuild could very well build value for QXO, it appears investors may have had some trepidation about the purchase, which is QXO's biggest acquisition to date.

Source Fool.com