In the latest episode of "The Freight Caviar Podcast", we sit down with Cameron Ramsdell, the CEO of Armstrong Transport Group. He discusses strategies for protecting your business against fraud and how he grew Armstrong by 60% in one year.
Plus: Trump eyes Panama Canal takeback, US imports surge 12.3% YoY, Hyzon plans liquidation, and more.
Plus: Universal bought Parsec amid layoffs, CA ports reported a record-breaking year, FedEx split off its LTL division, and more.
Yellow, the US's fifth-largest trucking company, witnessed a share price surge of 387.5% despite ceasing operations. Speculations arise about a bankruptcy loan and a large-scale purchase by an investor.
Yellow, the US's fifth-largest trucking company, ceased operations on Sunday. Surprisingly, its share price skyrocketed, with an 80 cent value on Monday morning, soaring to $3.90 by Tuesday's close. This represents a 387.5% increase in just one day. Therefore, if you had invested $10,000 in Yellow's shares on Monday morning, it would have ballooned to $48,750 by Tuesday's close. It's a shocking development for a company that has stopped operations. Timothy Dooner gave some insight into this, saying, “A bankruptcy loan is in the works, and I've just learned that a 'whale' made a significant purchase, which explains some of the activity." It will be fascinating to watch how this situation unfolds.
There’s a bankruptcy loan in the works and a whale picked up a big sum I just learned about, which explains some of the activity.
— Dooner 🏴☠️ (@TimothyDooner) August 1, 2023
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North Carolina upgrades weigh stations with $5.8M tech boost. New systems include weigh-in-motion and license plate readers for improved safety and efficiency.
Alabama jury rules against Daimler Truck NA in a $160M verdict for a truck driver injured due to alleged defective cab and seat design.
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