- The announcement comes one day after the short seller Spruce Point Capital Management alleged "financial irregularities."
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A logistics company is surging after announcing a $1 billion stock-buyback program one day after a short seller alleged 'financial irregularities' (XPO)
XPO Logisitcs surged Friday morning after announcing a $1 billion buyback program, one day after a short seller alleged "financial irregularities"
XPO Logistics CEO Brad Jacobs, left, talks with company driver Antoine Seegars.
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XPO Logisitics was surging Friday morning, up more than 7% to $47.93 a share, after announcing a $1 billion stock-buyback program. Shares tumbled more than 26% Thursday, to their lowest level since April 2016, after the short seller Spruce Point Capital Management alleged the company had "financial irregularities" that were masking its growth problem.
XPO responded to the report on Thursday, saying the allegations were "
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