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Trucking Stocks Fall on Legal Risk in Worst Month Since Tariffs
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Claims Journal
Trucking and logistics stocks are poised for their worst month in more than a year, weighed down by mounting concerns over a recent legal decision that can hurt industry brokers, alongside disappointing earnings.
The decline was led by freight broker CH Robinson Worldwide Inc., whose shares are down 21% this month, the steepest since 2000.
Both CH Robinson and Landstar also tumbled after reporting results this week.
Freight carrier rates were finally increasing after a years-long downturn in the industry, helping a gauge of trucking shares power to a series of records this year.
He acknowledged, however, that “the main external risk remains the Texas advisory verdict,” adding that the appeals process CH Robinson intends to pursue could take years.