CJ Logistics’ Stock Drops Following Reports of Contract Negotiations with AliExpress

Delivery time2024-03-21 09:26

CJ Logistics Incheon Airport Express Center

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(Seoul = Yonhap News) Reporter Cho Min-jung = CJ Logistics (000120) shares fell sharply in early trade on the 21st on the possibility that its contract with Chinese e-commerce company Ali Express will not be renewed. .

As of 9:20 a.m. today, CJ Korea Express is trading at 119,900 won on the stock market, down 6.84% from the previous trading day.

The drop in stock prices appears to be due to reports that AliExpress did not renew its shipping contract with CJ Logistics, but sent a competitive bid to major local logistics companies.

The prevailing view in the industry was that CJ Logistics and Ali would continue the contract, and expectations of a corresponding performance were also reflected in the share price.


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2024/03/21 09:26 Sent

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