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Amazon Freight Expansion Sparks Selloff Across Trucking Stocks
Amazon Freight Expansion Sparks Selloff Across Trucking Stocks
Less-than-truckload freight stocks fell in premarket trading in New York after Amazon roiled the industry yet again - this time by announcing expanded LTL services to cover all U.S. destinations, including third-party warehouses, distribution centers, and retail partners.
"Businesses now have the flexibility to ship by pallet, choosing LTL to share trailer space for partial loads instead of reserving and paying for a full truckload," Amazon wrote in a press release, adding, "Since 2019, Amazon LTL has served tens of thousands of Amazon...
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