Why Old Dominion Freight Line Stock Was Sliding Today
Shares of Old Dominion Freight Line (NASDAQ: ODFL) were falling today in sympathy with a disappointing report from rival Saia, another top less-than-truckload (LTL) carrier.Combined with the report from ODFL the day before, Saia's update is clear evidence that the trade war and weakening economy is already having an effect on the trucking sector.As of 11:58 a.m. ET, Old Dominion stock was down 6.7%, while Saia stock had plunged 29.1%.Continue reading
Shares of Old Dominion Freight Line (NASDAQ: ODFL) were falling today in sympathy with a disappointing report from rival Saia, another top less-than-truckload (LTL) carrier.
Combined with the report from ODFL the day before, Saia's update is clear evidence that the trade war and weakening economy is already having an effect on the trucking sector.
As of 11:58 a.m. ET, Old Dominion stock was down 6.7%, while Saia stock had plunged 29.1%.