Amazon's Entry into Logistics Market Impacts GXO Logistics Shares
GXO Logistics shares fell by nearly 13% following Amazon's announcement of its new logistics service, Amazon Supply Chain Services (ASCS), which threatens to compete with GXO's large-enterprise contract logistics offerings. Amazon's move into the logistics market, targeting businesses of all sizes, has raised concerns about its impact on companies like GXO and UPS.
Topics: Amazon GXO Logistics logistics market competition stock price movement