Itamar Turner-Trauring @itamarst@hachyderm.io
Public

This is supposedly what is causing trucking broker stocks to crash today:

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Thursday’s rout was sparked by an update from tiny AI logistics firm Algorhythm Holdings Inc., which said its SemiCab platform in live customer deployments was helping its customers’ internal operations to scale freight volumes by 300% to 400% without a corresponding increase in operational headcount. Shares of the company soared 12%.

Algorhythm, which had a market capitalization of less than $5 million before Thursday, previously operated as The Singing Machine Company, Inc. — selling karaoke products — until rebranding in 2024 as an AI logistics firm. The company reported less than $2 million in sales for the quarter ended September 30, with a net loss totaling nearly $3 million for the period.
"""

(finance.yahoo.com/news/logisti)

Logistics Stocks Sink as AI Fear Trade Finds Latest Victim

The Russell 3000 Trucking Index dropped 7.8%, with CH Robinson Worldwide Inc. at one point plunging by a record 24%, and Landstar System Inc. falling 18%. The index is on track for its worst day since President Donald Trump enacted his so-called Liberation Day tariffs last year. Drug distribution stocks were also caught up in the selloff, with McKesson Corp. and Cardinal Health both sliding more than 4%.

finance.yahoo.com · Yahoo Finance

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