NEW YORK CITY, UNITED STATES – 2020/02/20: American multinational delivery services company, FedEx … [+] logo seen on a delivery vehicle. (Photo Illustration by Alex Tai/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

FedEx stock (NYSE: FDX) lost more than 30% – dropping from $155 at the beginning of the year to below $112 in late March – then spiked 127% to around $254 now. That means it’s now 64% higher than where it started the year!

Why? The Covid-19 outbreak meant restrictions of movement and people flocked to e-commerce platforms for shopping, which greatly benefited FedEx’s Ground residential delivery business. And now with economies gradually opening up, the overall demand for parcel delivery has increased. Furthermore, the multi-billion dollar Fed

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