Shares of several trucking and logistics companies declined Thursday on fears that new artificial intelligence tools could slash major freight inefficiencies, leading to less demand for the industry’s services.
A new tool from AI company Algorhythm Holdings
has made trucking companies the latest victim of the market’s AI jitters, adding to the historic sell-off in software stocks and real estate companies. The notable market rotation has come as investors are increasingly scrutinizing traditional businesses that may not be able to keep up with rapid advancements in AI.
Leading trucking and logistics stocks C.H. Robinson
and RXO
