QXO, Inc. (QXO) fell 4.09% due to lack of catalysts

From Yahoo Finance: 2025-04-23 11:11:00

Wall Street indices rebounded from a slump, with the Dow Jones rising 2.66%, the S&P 500 up 2.51%, and the Nasdaq surging 2.71%. However, 10 companies, mostly gold miners, faced heavy selling due to lower gold prices. QXO, Inc. (NYSE:QXO) fell 4.09% on Tuesday amidst a lack of catalysts.

QXO, Inc. (NYSE:QXO) agreed to acquire Beacon Roofing Supply for $11 billion, or $124.35 per share, with Beacon’s Board recommending shareholders tender their shares by April 28, 2025. The deal is set to close in April pending conditions and antitrust approvals, aiming to lead the $800 billion building products distribution industry.

Ranked 8th among Tuesday’s worst-performing stocks, QXO aims to reach $50 billion in annual revenue. While QXO shows potential, AI stocks are touted for higher returns in a shorter timeframe. Consider exploring a promising AI stock trading at less than 5 times earnings for better investment opportunities.



Read more at Yahoo Finance: Why QXO, Inc. (QXO) Crashed on Tuesday