The biggest stock market winners and losers of the US port strike

Oct. 1, 2024 - Markets Insider

Port workers are demanding a 61.5% raise and oppose the adoption of automation in new contract negotiations.

According to Stifel analyst Bruce Chan, the ramifications of the port strike won't be sizable unless the strike is drawn out for more than two weeks. Robinson Worldwide and Expeditors International of Washington have seen gains of 4% and 5% in the past week, respectively, as investors anticipate increased business due to the port strike.

Biggest losersThe biggest losers, so far, appear to be shipping container companies that are directly exposed to the port strike. That means railroads and trucking companies with significant exposure to the east coast could take a hit.

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