Why Forward Air Shares Are Diving Today
Portfolio Pulse from Lekha Gupta
Shares of Forward Air Corp (NASDAQ:FWRD) have dropped by over 27% following the announcement of a business combination with Omni Logistics, LLC. The drop is due to several analysts downgrading the stock, citing concerns about top-line diversions, increased short-term leverage, and lack of near-term earnings accretion. Wolfe Research and Stifel also lowered their ratings for FWRD.
August 11, 2023 | 6:26 pm
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Forward Air Corp's stock has been downgraded by several analysts following the announcement of a business combination with Omni Logistics, leading to a 27% drop in share price.
The announcement of Forward Air Corp's business combination with Omni Logistics has led to several analysts downgrading the stock due to concerns about financial risks. This has resulted in a significant drop in the company's share price.
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