Amazon Opens LTL Trucking Nationwide, Sending Old Dominion Down 6%
Updated
Updated · CNBC · Jun 10
Amazon Opens LTL Trucking Nationwide, Sending Old Dominion Down 6%
3 articles · Updated · CNBC · Jun 10
Summary
Old Dominion fell more than 6% on Wednesday after Amazon said its less-than-truckload service will now be available to all businesses and ship to any U.S. destination.
The move expands Amazon Supply Chain Services beyond merchants using Amazon warehouses, turning an in-house logistics tool into a broader offering for external shippers.
ArcBest dropped 4%, while Saia and XPO each slid 5%; FedEx Freight, newly spun off by FedEx, lost about 3% as investors priced in tougher competition.
Amazon has spent years building out its logistics network — including 80,000 trailers and 24,000 containers — and last month bundled several freight products into an end-to-end supply chain service.