Logistics stocks get spooked by a penny-stock AI pitch (RIME:NASDAQ)
Shares of major freight and logistics companies experienced a significant drop after a small-cap firm, Algorhythm Holdings, Inc. (RIME), announced that its new AI technology could drastically improve broker productivity. This announcement reignited investor concerns about the potential for automation to disrupt the logistics sector, causing popular stocks like C.H. Robinson (CHRW) and XPO (XPO) to tumble.
https://seekingalpha.com/news/4551366-logistics-stocks-get-spooked-by-a-penny-stock-ai-pitch