Comment / Supply chain radar: XPO Logistics at square one – with $2bn of negative tangible book value

XPO’s market performance these days brings to mind an old Wall Street proverb related to throwing dead cats out of windows.

Background 

Clearly, buybacks aren’t doing the trick anymore.

Meanwhile, some key clients – such as Cummins, one of the largest independent diesel engine manufacturers worldwide – have committed to other 3PLs’ services after the very painful loss of Amazon’s business.

“Yes, other shippers are considering their options, as they always do, but we are strong,” one XPO insider said.

If you wonder whether its stock is ...