economy

We're adding to our position in a newly public stock that's still finding its footing

The purchase will help us build up this new position.

We're adding to our position in a newly public stock that's still finding its footing

TL;DR

  • Jim Cramer's Charitable Trust bought 100 shares of FedEx Freight at approximately $147.03.
  • The trust now owns 250 shares of FDXF, increasing its portfolio weight to nearly 1%.
  • The purchase occurred after FedEx Freight's stock fell 7% due to confusion in its earnings report.
  • Recast financials for FedEx Freight will be released in August.
  • The trust believes the stock's sell-off is an overreaction, expecting a recovery based on management execution and a broader trucking cycle recovery.
  • Newly spun-out companies often take time to stabilize their shareholder base and selling pressure.

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