Here's Why Old Dominion Freight Line Stock Slumped This Week
Key takeaways
- ODFL UPS FDX NVDA Shares in Old Dominion Freight Line (NASDAQ: ODFL) declined by 11.9% last week after a downgrade from a Citi analyst.
- The freight company is known for being a high-quality operator in the niche less-than-truckload (LTL) market in the U.S.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
ODFL UPS FDX NVDA Shares in Old Dominion Freight Line (NASDAQ: ODFL) declined by 11.9% last week after a downgrade from a Citi analyst. Even though the price rose to $228 from $225, the analyst downgraded the stock to sell from neutral.
The freight company is known for being a high-quality operator in the niche less-than-truckload (LTL) market in the U.S. The LTL market involves moving shipments that are too large for package delivery companies, such as UPS and Fed Ex, but too small to fill a trailer. It s a relatively complex operation as its trailers are often filled with shipments for multiple customers, implying sophisticated logistics and multiple network terminals.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »