FDX Stock Reverses 4 Weeks Of Losses: Ross Gerber Lauds FedEx's Fleet Electrification, Wants Amazon To Follow Suit

• Harbinger will deliver 2,000 electric trucks by 2027, which FedEx will use to replace 2,000 gas-powered vehicles. 
• FedEx expects the 2,000 electric trucks to save about $40 million a year. 
• FedEx is also increasing its use of sustainable aviation fuel. 

FedEx Corp. (FDX) stock snapped a four-week losing streak, rising 1.6% last week, as investor Ross Gerber publicly praised the delivery giant's $300 million-plus order for 2,000 electric trucks from Harbinger Motors. Gerber also called on Amazon.com Inc. and the U.S. Postal Service to ditch dirty, expensive gas-powered delivery fleets. 

The recovery is small, but FedEx’s order comes as logistics companies face high diesel prices, partly due to the Iran war, while also moving toward cleaner vehicle fleets. Investors will watch whether EVs help reduce fuel costs and improve profit margins. 

Gerber's Green Endorsement For FedEx

In an X post on Oct. 3,  Gerber, CEO and co-founder of Gerber Kawasaki Wealth and Investment Management, said, "Just great to see FedEx going green. I see these EV trucks, and they make me happy.”

“Now Amazon and the post office need to rid themselves of dirty, expensive-to-operate gas trucks.”

According to a Bloomberg report, Harbinger will deliver the 2,000 all-electric trucks by the end of 2027. FedEx will deploy them across pickup and delivery operations in the U.S. and Canada, replacing an equal number of internal-combustion vehicles.

Harbinger estimates each truck can cut fuel costs by an average of $20,000 a year versus the diesel vehicle it replaces. Across 2,000 trucks, that works out to roughly $40 million in annual savings. FedEx has said it aims to make all parcel delivery vehicle purchases electric by 2030. It already operates nearly 9,500 electric vehicles worldwide.

Both FedEx stock and Amazon stock edged 0.1% lower overnight, ahead of Monday, 

FedEx Expands Sustainable Aviation Fuel Use 

FedEx is also scaling its sustainable aviation fuel (SAF) procurement. On Sept.15, the company signed new agreements to secure more than 20 million gallons of neat SAF across five U.S. airports through 2027: Newark, Oakland, Miami, JFK and Dallas Fort Worth. Blend ratios will range from 30% to 50%, depending on location. The company is working toward sourcing 30% of its jet fuel from blended alternative sources by 2030.

Amazon is also growing its electric vehicle fleet. It plans to deploy 100,000 Rivian electric vans by 2030 and has added electric trucks from Mercedes and Volvo. The company aims for net-zero emissions by 2040. 

FDX, AMZN Stocks: Retail View 

Retail sentiment around FDX changed to ‘neutral’ from ‘bearish’ the previous day, while sentiment around AMZN improved to ‘bullish’ from ‘neutral’.

So far this year, FDX stock has surged 24%, while AMZN stock has gained 8%. 

Also see: Stocktwits Retail Therapy: Consumer Stocks Face Heat But Carnival, Mattel And Stitch Fix Buck The Trend

For updates and corrections, email newsroom[at]stocktwits[dot]com.