The acquisition of Coyote Logistics by RXO announced Sunday received a rip-roaring reception on Wall Street Monday, with the company’s stock price trading up by double-digit percentages on a move that management said will make it the third-largest freight brokerage in the country.
At about 11:15 a.m. EDT, RXO stock was up about 21.9% to to $24.64, a gain of $4.43. It hit a 52-week high on the day at $25.07, according to Barchart.
The Wall Street applause for the deal to acquire Coyote from UPS (N...