UPS and FedEx stocks jump after Trump opposes more funding for USPS

cheryl

I started this.
Staff member
UPS and FedEx stocks jump after Trump opposes more funding for USPS - Washington Examiner

The stock value of package delivery companies UPS and FedEx jumped Thursday after President Trump said he opposed more funding for the U.S. Postal Service over mail-in voting.

Stocks for UPS and FedEx each shot up by more than $3 shortly after Trump's comments about not wanting to give additional funding to the Postal Service. The increase on Thursday represents a 1.5% to 2% jump in stock value for each company. Both companies have also had a stock spike since the end of July.

“It’s basic competition 101. If your competitor, a state competitor, is hurt, it’s an advantage for private companies in the same industry,” said Tim Wu, an antitrust professor at Columbia University. “It’s absolutely a boon for UPS and FedEx. It’s doubtlessly helpful to them.”
 

DriverNerd

Well-Known Member
I'm not really sure how the Post Office not getting money for mail-in voting would help UPS and FedEx. It's not like either company is going to ship ballots for 50 cents a piece.
 
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