Payment management solutions provider Cass Information Systems’ (NASDAQ: CASS) freight index fell mightily in April as expected. The shipments component of the index dropped 22.7% year-over-year with the expenditures component off 18.2% as the U.S. economy felt the brunt of a full month’s worth of lockdowns.
The report’s author, Stifel Financial (NYSE: SF) equity research analyst David Ross, said April marks the bottom. “May should be better, as the U.S. economy slowly begins to reopen and some...
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