Part 2/11:
Since the summer of last year, FedEx’s stock has experienced considerable volatility, largely influenced by broader macroeconomic concerns and tariffs. The initial impact of tariff changes and trade tensions in spring 2022 contributed to a dip below pre-tariff levels, and despite a partial recovery post-Liberation Day in April, the stock has mostly traded sideways through the summer. Before the latest earnings report, FedEx was down nearly 20% for the year, reflecting investor skepticism and cautious industry outlooks.