Fedex Corp (FDX)
is trading -23% lower at $157.85 today. Shares of the stock are stumbling behind other names in the space on what is turning out to be a mildly somber day for the Industrials sector.
A likely catalyst for the price move is traders taking positions in preparation for the upcoming earnings call on September 22. The company has fallen out of favor with analysts after a bearish preliminary earnings report offered on Thursday evening.
Fedex Corp has been trading between a 52-week high of $263.11 and a 52-week low of $155.01. The stock has a market cap of $41 Billion.
FedEx Corp. provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce and business services. With annual revenue of $75 billion, the company offers integrated business solutions through operating companies competing collectively, operating collaboratively and innovating digitally under the respected FedEx brand.As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:
TheObsidianHawk - 74 upvotes - source
Welp, FDX dropped 15% in after hours and UPS dropped 5% in after hours. So on that note going all in on the US Postal Service.
btoned - 39 upvotes - source
Stop drooling over the price of FDX puts. You had NO way of knowing it was the rando ticker to drop. We’re playing roulette here lol.
31andnotdone - 19 upvotes - source
who had fdx puts do you need a lady friend
fin425 - 16 upvotes - source
Fun fact: 70% of FDX business is outside the US. Reading too deep into this, may get you caught offsides and I’m a bear.
vCharged - 12 upvotes - source
Dude. You’re gonna write this without even looking? FDX is down 15% after hours Edit: nice edit on your end
Dry_Vermicelli5881 - 11 upvotes - source
Kiss your spy calls good bye. Jesus Christ FDX
gloomyglooom - 11 upvotes - source
INB4 gain porn from some regard on here who randomly bought 1DTE FDX 165p
LuxGang - 11 upvotes - source
FedEx closing offices and cutting jobs "As part of these cost-cutting initiatives, FedEx will close 90 office locations, close five corporate office facilities, defer hiring efforts, reduce flights and cancel projects." https://www.cnbc.com/2022/09/15/fedex-fdx-earnings-q1-2023-miss-estimates.html?__source=androidappshare
btoned - 11 upvotes - source
Read slowly: Unless you were an insider, the only way you are holding FDX puts at open is out of pure luck. Stop drooling over what could have been and buy MORE puts. 🩸
Hot-Performancy - 10 upvotes - source
If I see any FDX gains post tomorrow, I will report them to SEC