Plus, a Chicago-based freight broker boasts about making $215k in one day, Lineage Logistics hits it big with an $18 billion IPO, the latest on the Ocean's 11-style freight heist, and more.
We took the opportunity to ask our Instagram followers about their best days as freight brokers. Here are some of their responses...
Heartland Express, Covenant Logistics, and Knight-Swift Q2 earnings show mixed results, debt reduction, and market stabilization signs.
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
UPS maintains ambitious 2026 targets, but investors remain skeptical as it misses its Q2 expectations, sending the stock tumbling 13%.
A truck carrying flammable chemicals crashed and exploded on Route 3 in Clifton, NJ, killing the driver and forcing evacuations.
Lineage, the cold chain logistics leader, plans a massive $3.85 billion IPO, offering 47 million shares priced between $70 to $82 each.
Q2 sees slower rate of trucking business exits, but market remains challenging. Here are the latest industry data and expert insights.
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