Part 2/6:
Since the height of the tariff turmoil in spring 2022, FedEx's stock has faced significant headwinds. Although there was a brief rebound from April's post-Liberation Day lows, the broader trend remained lukewarm. Throughout the summer, the stock mostly traded sideways, reflecting investor hesitation and economic uncertainties. By the close of last night's earnings report, FedEx's shares had still declined nearly 20% year-to-date—a grim figure that underscored the cautious sentiment prevailing on Wall Street.