Stock Track | RXO Inc Soars 6.54% Intraday as Analysts See Buying Opportunity After AI-Led Selloff
Stock Track
Feb 14
RXO Inc's stock soared 6.54% during intraday trading on Friday, marking a significant rebound in the trucking sector.
The surge comes after trucking stocks, including RXO, were hit by fears that artificial intelligence technology could disrupt the industry. Analysts have called the selloff overdone and see an obvious buying opportunity, leading to renewed investor interest.
AI company Algorhythm Holdings recently announced its SemiCab platform, which sparked concerns about AI disruption in logistics. However, analysts argue that companies like RXO are well-positioned and that the market reaction was excessive, fueling the rebound.
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