On July 13, QXO Inc declined 5.17% in regular trading, trading at $14.185/share, with turnover of $64.91 million. The stock continues to face selling pressure as the market digests the financial implications of the company's massive acquisition of TopBuild.

QXO officially completed its approximately $17 billion acquisition of TopBuild on July 1. The merger consideration election results revealed that 91% of TopBuild shareholders opted for the cash alternative, receiving $249.71 in cash plus 10.21 shares of QXO stock per share — resulting in cash outlays significantly exceeding the originally anticipated cap of 45%. To fund the acquisition, QXO previously issued $3 billion in senior notes (comprising $1.5 billion of 6.5% notes due 2031 and $1.5 billion of 6.875% notes due 2034) and drew on substantial term loan facilities, sharply elevating its financial leverage.

Adding to investor concerns, S&P downgraded TopBuild's credit rating on July 6 following transaction structure adjustments related to the acquisition. Market anxiety over the combined entity's credit profile and debt servicing capacity continues to weigh on share price performance.

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