1 Cheap Logistics Stock to Buy Now and Never Sell
It's been a little more than a year since GXO Logistics (NYSE: GXO) first went public after it was spun off from XPO Logistics.
Shares initially jumped after the separation last August, but GXO, the world's largest pure-play contract logistics company, has slumped since then, falling 54%. That decline reflects the market's fears that a recession will hit GXO and the rest of the logistics sector since these companies depend on shipping volumes and, therefore, end-consumer demand.
But despite the weak stock performance, GXO's latest results indicate the company is showing little sign macroeconomic pressure.
Source Fool.com
