FedEx (NYSE: FDX) stock has been beaten up in 2020 by the market's fear of the impact of COVID-19 on the economy. It is down by roughly 15% year to date as I write. But is that creating a buying opportunity, or is there more pain to come?
Let's face facts: FedEx is so integrated with the global economy that to buy its stock is to cast a vote of confidence in global growth. In other words, if you aren't confident that the COVID-19 pandemic will be contained and the global economy will avoid a protracted recession, then you should be avoiding FedEx.
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Source Fool.com