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- USX stock price surged tremendously around 298% today, as the news of Knight-Swift Transportation acquiring US Xpress Enterprises at the rate of $6.15 per stock.
- USX stock price is soaring and gaining momentum as a high trading volume of 4.893M detected.
- US Xpress Enterprises Inc stock (NYSE: USX) is recovering and has gained around 272.97% in a week.
Let us know the reason behind USX stock price surge and the price fluctuation of USX stock:
Knight-Swift Transportation Holdings Inc. proposed a deal for a business transaction for about $808 MILLION Deal, with Knight-Swift Transportation is anticipated to be favorable for adjusted earnings per share beginning in 2024.
Consol US Xpress Business Unit: Knight-Swift Transportation targets high-80S adjusted operating ratio by calendar 2026 Knight-Swift Transportation- US Xpress Enterprises Inc. will continue to be led by its current senior management even after closing.
This story does not hold any concrete information regarding the context however, it provides the overview given by Devdiscourse.
About US Xpress Enterprises Inc (NYSE: USX):
US Xpress Enterprises Inc (USX Stock) is a transportation company headquartered in Chattanooga, Tennessee, USA. The company was founded in 1986 by Max Fuller and Patrick Quinn and it went public in 2018.
US Xpress offers a range of transportation services, including truckload, dedicated, intermodal, brokerage, and logistics services. The company operates a fleet of over 7,000 tractors and 15,500 trailers, and it has a network of over 20,000 third-party carriers.
The company is focused on providing innovative transportation solutions to its customers, using technology to optimize its operations and increase efficiency. It has implemented a range of initiatives to improve safety, sustainability, and driver satisfaction, including its Full Ride scholarship program, which covers the cost of tuition and fees for drivers and their families to earn college degrees.
US Xpress (USX Stock) is committed to social responsibility and has a number of programs in place to support the communities in which it operates. These include partnerships with charitable organizations and initiatives to reduce its carbon footprint and improve the sustainability of its operations.
Overall, US Xpress is a well-established and innovative transportation company that offers a range of services and is committed to sustainability and social responsibility.
The Gaining Record of USX Stock Price:
USX stock price needs to continue the momentum to maintain its record of recovery over the charts. USX stock price has gained around 272.92% in a week moreover, 292.60% in a month.
USX stock has grown around 241% in the last quarter. In addition, the six months recovery of USX stocks price has also shone with around 138.70% growth rate.
USX stock price has risen around 237.15% year to date showcasing the maximum growth rate during 2023. Meanwhile, US Xpress Enterprises Inc’s USX stocks has recovered around 23.55% in a year.
USX Stock: Technical Analysis
USX Share price has surged tremendously after the news of Knight-swift acquiring US Xpress Enterprises Inc flashed around the market. Meanwhile, USX stock price has gained tremendous volume with the more and more involvement of traders during the intraday trading session. Trading volume has surpassed the average that can be observed over the daily time frame chart. The 20-EMA has a golden crossover with the 50 and 100-days Daily Moving Average to rise towards the 200-days DMA.
USX Stock price was at $5.98 and has gained 298.67% of its market capitalization by the opening of Tuesday’s trading session.
Technical indicators suggest the upside trend of USX share price. Relative strength index showcases the strong upside trend of USX share price. RSI is extremely overbought territory and is at 93 at the moment. MACD exhibits the strong upward momentum of USX share price. The MACD line is above the signal line after a positive crossover.
Summary
Knight-Swift Transportation Holdings Inc. proposed a deal for a business transaction for about $808 MILLION Deal, with Knight-Swift Transportation is anticipated to be favorable for adjusted earnings per share beginning in 2024.
USX stocks price needs to continue the momentum to maintain its record of recovery over the charts. USX stocks price has gained around 272.92% in a week moreover, 292.60% in a month.
USX Stock price has surged tremendously after the news of Knight-swift acquiring US Xpress Enterprises Inc flashed around the market.
Technical indicators suggest the upside trend of USX share price. Relative strength index showcases the strong upside trend of USX stocks.
Technical Levels
Resistance Level: $6.00 and $6.30
Support Level: $5.65 and $5.00
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
