Landstar System Shares Plunge 18.7% in Tech-Driven Market Rout
Landstar shares fell 18.7% on February 12, making it the third-largest Russell 1000 decliner during a technology-driven market rout. The selloff was sparked by cautious margin guidance from Cisco, which drove a 16% VIX surge and a 1.7% drop in the Nasdaq 100, weighing on transportation stocks.
1. Heavy Selloff Hits Landstar
On February 12, Landstar System saw its share price tumble 18.7%, ranking among the Russell 1000’s largest one-day decliners as investors surged into defensive positions.
2. Tech Guidance Sparks Volatility
The decline followed cautious margin guidance from Cisco, triggering a 16% spike in the VIX and a 1.7% slide in the Nasdaq 100, which dragged down transportation names along with software and hardware sectors.
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