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3 Trucking Stocks to Buy This Month -Breaking

by Mike Robinson

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© Reuters. Three Trucking Stocks You Should Buy this Month

Due to current supply chain limitations, the demand for trucking services is likely to rise significantly over the next few months. It is possible to make a profit by investing in quality trucking stocks Ryder System and ArcBest Corporation (NASDAQ) as well as Daseke. We’ll take a closer look at each of these stocks. A surge in trucking traffic has resulted from the rising demand for auto parts and raw materials. The demand for truck-based transportation is likely to rise as the economy opens up. According to American Trucking Associations, a record 80,000 additional truck drivers are now needed to meet the nation’s freight demand. The situation has drawn investors’ attention to this space, as is in-part evidenced by the iShares Transportation Average ETF’s (IYT) 7.3% gains over the past month versus the SPDR S&P 500 ETF’s (SPY) 2.9% returns.

In spite of being affected by the COVID-19 epidemic, global transport industry growth is projected to be 3.4% from 2027. Spot market volumes were 120% higher, and contract truckload volumes grew 3% over the previous year.

We believe it would be prudent to place our money on the fundamentally solid trucking stocks Ryder System, Inc., ArcBest Corporation, (ARCB), or Daseke, Inc., (DSKE) given this background.

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