Why Shares of FedEx Are Up Today

Shares of FedEx (NYSE: FDX) gained more than 7% on Tuesday as investors cheered promising signs of an economic recovery. FedEx and other transport companies have been hit hard by the COVID-19 pandemic, but FedEx is well positioned to rebound if and when the economy begins to recover.

FedEx shares were hit hard in the early days of the pandemic, losing nearly 40% of their value during a period from mid-February to mid-March. The global outbreak slowed economies, cut supply chains, and led to weak demand for shipping services.

Image source: FedEx.

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Source Fool.com