With the sudden drop in the shares of FedEx, a globally renowned transportation company, people are a little worried. Raj Subramaniam has informed us that the economic conditions are not doing well, and the logistics industry is suffering because of it!
The package deliveries by the company have significantly decreased, which worries the customers. Along with that, even the CEO informed us that it is due to the economic conditions that the company cannot maintain a balance, and it is due to COVID!
Currently, the logistics industry is in the post-COVID cooling phase, which has spooked Investors, especially due to the rapid fluctuation of package deliveries, which has indirectly influenced the shares and their values.
The company’s share has significantly decreased by 20% in just a day! It is the largest drop in price in one day. The overall performance of FedEx does depend on what the CEO considers to be important. He is responsible for the global workforce of more than 600,000 employees.
The global corporation’s CEO serves as an effective example of achievement and dedication. However, his recent stint on TV explaining why the shares of FedEx are valued less has initiated a panic among investors. He also informed us that COVID still impacts the logistics sector companies!
In the Fortune Global Forum in Abu Dhabi, Subramaniam said that the trend practiced by companies such as FedEx and others would be okay; however, there has been a pandemic. The pandemic has severely impacted the performance of companies in delivering and package support worldwide.
The CEO of FedEx, Raj Subramaniam, is an Indian-American working hard on a global scale and has recently received the Pravasi Bharatiya Samman award! He has also won the top business award in 2023, the Outstanding 50 Asian Americans in Business Award for Asian Americans, which is one of the highest honors!
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