Business Insider: “Trucking stocks are getting whacked…”By admin_45 in IN THE NEWS
Excerpt from Business Insider quoting DataTrek's Nick Colas:
.... "And Nicholas Colas, co-founder of DataTrek Research, agrees that the trucking industry has already reached a cyclical top, due to the cooling of trucking demand and falling oil prices.
"Lower levels of demand combined with declining oil/fuel prices are beginning to take their toll on trucking industry pricing power," said Nicholas Colas, co-founder of DataTrek Research.
Oil prices have been under pressure recently, with West Texas Intermediate crude oil down 36.76% from its four-year high of $76.90 a barrel set on October 3. And trucking companies are worried"....
Read the full article here on Business Insider!