U.S. Xpress Enterprises, Inc.
|Company Name||U.S. Xpress Enterprises, Inc.|
On November 1, 2018, U.S. Xpress announced its third quarter 2018 financial results. Therein, the Company reported that utilization in certain trucking divisions was negatively impacted because the Company’s over the road division was required to provide drivers to its dedicated division. Then, on November 2, 2018, U.S. Xpress revealed that it was retaining a new Chief Operating Officer. On this news, U.S. Xpress’s share price fell $3.04 per share, or nearly 30%, to close at $7.10 on November 2, 2018, thereby injuring investors.
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