Proficient Auto Logistics reported a significant drop in its stock price after a brutal overview of the auto hauling market in its first quarter earnings call. The stock closed down 25.57% to $7.77, following an initial rise after third quarter earnings. The company outlined internal benchmarks for growth, including an acquisition of Brothers Auto Transport. However, market conditions were grim, with January auto sales at an all-time low due to severe winter weather. Proficient also took a goodwill impairment charge of $27.8 million, impacting its asset base. Despite challenges, the company aims to improve profitability and respond to market needs efficiently.

Read more at Yahoo Finance: Wall Street reacts to Proficient’s earnings: a 25% stock decline