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Radiant Logistics announced a $100 million bet aimed at capitalizing on an expected rebound in freight demand, according to a Yahoo Finance report. The move comes as trucking and logistics companies navigate soft freight pricing and demand pressures. The company subsequently reported double-digit growth in its fiscal fourth quarter, sending shares up 16% and lending early support to its strategic freight-rebound wager. The results stand in contrast to weaker readings elsewhere in the trucking sector, including J.B. Hunt's recent earnings warning.
Sources:Yahoo Finance