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Trucking and logistics stocks drop on release of AI freight scaling tool
Shares of several trucking and logistics companies, including C.H. Robinson, RXO, J.B. Hunt, XPO, and Expeditors International, declined significantly on Thursday. This drop followed the release of a new AI freight scaling tool by Algorhythm Holdings, which investors fear could slash freight inefficiencies and reduce demand for traditional logistics services. The Algorhythm tool, SemiCab, claims to scale freight volumes significantly and reduce empty freight miles, impacting the economics of logistics.