Amazon.com Inc. (AMZN) has acquired 2,300 trucks to launch a new fleet of larger carriers to service its delivery operations. According to a Reuters report on July 10, the trucks will be much larger and to a scale commonly used by Amazon’s competitors such as FedEx (FDX) and UPS (UPS). The vehicle acquisition was made from Shyft Group, Inc. (SHYF) last year. Both companies have not disclosed the amount of the purchase.Amazon’s stock was up 1% at $3,200 as of market close on July 10, while Shyft rose 14% at $16.88.In light of the pandemic, the online retail giant was …read more
Source:: Yahoo Finance
