The World Cup kicked off, and Amazon decided to become forklift certified. Plus: the Fed could spoil freight's party, C.H. Robinson in crosshairs again, the World Cup is a freight problem, and more.
Here's your weekly roundup of what’s trending across the freight industry on X, LinkedIn, Reddit, and YouTube.
Every freight AI vendor quotes an automation rate. Almost none publish what's behind it. Here's the methodology question brokerages should be asking and what Chain's 3M-load dataset reveals.
Yellow, the US's fifth-largest trucking company, witnessed a share price surge of 387.5% despite ceasing operations. Speculations arise about a bankruptcy loan and a large-scale purchase by an investor.
Yellow, the US's fifth-largest trucking company, ceased operations on Sunday. Surprisingly, its share price skyrocketed, with an 80 cent value on Monday morning, soaring to $3.90 by Tuesday's close. This represents a 387.5% increase in just one day. Therefore, if you had invested $10,000 in Yellow's shares on Monday morning, it would have ballooned to $48,750 by Tuesday's close. It's a shocking development for a company that has stopped operations. Timothy Dooner gave some insight into this, saying, “A bankruptcy loan is in the works, and I've just learned that a 'whale' made a significant purchase, which explains some of the activity." It will be fascinating to watch how this situation unfolds.
There’s a bankruptcy loan in the works and a whale picked up a big sum I just learned about, which explains some of the activity.
— Dooner 🏴☠️ (@TimothyDooner) August 1, 2023
Plus, STG's path out of bankruptcy, Wyoming's "Truck Around and Find Out" operation, what "phantom capacity" means for Mexico lanes, and more in today's newsletter.
Plus, a cabless autonomous truck just raised $24M, non-domiciled CDLs rules need clarifying, CSX posts a 26% profit jump while watching the UP-NS merger closely, and more in today's newsletter.
Plus, USPS gives non-domiciled CDL carriers an 11-day deadline, the spot-to-contract spread starts squeezing 3PLs, Knight-Swift trims its Q1 guide but stays bullish, and more.
Plus, Super Ego fires back at 60 Minutes, China tells Maersk and MSC to exit Panama ports, New York loses $73.5 million over non-domiciled CDLs — and more in today's newsletter.
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