Plus: LAPD busts a $3.9M cargo theft ring, Nuvocargo and UPS expand in North America, U.S. moves to ease rules for self-driving trucks, Funny Freight Friday, and more.
Funny Freight Friday: Same thing.
The marketâs brutal, sure, but for freight agents with the right tools, itâs prime hunting season. Hereâs how theyâre making it work.
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, âA 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.
Thereâs 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 đŽââ ïž (@TimothyDooner) August 1, 2023
Today we sat down with Karolina Plecha, a truck driver living in Norway. She shares insights on life on the road, the future of electric vehicles, and what she does to prepare for unpredictable weather conditions.
Is this trucker a criminal or just a hustler trying to stay in the game? It depends on how you look at it.
Nikola Corporation, once valued at $30 billion and hailed as the future of EV trucking, has filed for Chapter 11 bankruptcy. The companyâs stock plummeted 40% today, marking a staggering 99% decline from its 2020 peak of $1,977 per share to just $0.45.
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