Old Dominion Freight Line stock rises 2.32% in positive market session
Updated
Updated · MarketWatch · May 6
Old Dominion Freight Line stock rises 2.32% in positive market session
9 articles · Updated · MarketWatch · May 6
Shares closed at $200.62 on Wednesday, extending gains for a second straight day as the S&P 500 rose 1.46% and the Dow added 1.24%.
The stock finished 14.19% below its 52-week high of $233.79 reached on 29 April, while trading volume of 1.9 million was below its 50-day average.
Among transport peers, J.B. Hunt, Knight-Swift and Saia also advanced, with Old Dominion outperforming J.B. Hunt but lagging the stronger gains posted by Knight-Swift and Saia.
Despite strong profits, why are Old Dominion's top executives selling their stock as the freight market tightens?
With diesel costs soaring, will ODFL's excess capacity drive profit growth or just become an expensive liability?
Is the trucking industry's fragile recovery a true economic rebound or a prelude to another cost-driven downturn?