Brandon Clay Financial: Is FedEx a Buy Here?
The better overall question through year end might be is anything a buy here? For now, we'll stick to FedEx. The company went on record saying their previous guidance predictions were no longer valid and earnings were a huge miss.
What does that actually mean? With my money, I'd stay on the sidelines and be looking for a $140 area entry at best. It's worth noting that the COVID low was $90 a share. I have to envision that range even into the $100 break would peak the interest of institutional buyers worldwide.
If you're already in, it's been a tough 24 hours but hope for a playable bounce into the $175 area then make a long-term decision from there.