Why Did QXO Stock Soar Today?

Brad Jacobs founded QXO (NYSE: QXO) with a vision to build the largest publicly traded distributor of building products in North America. The serial entrepreneur, who co-founded United Rentals and took multiple companies public, sought to unlock opportunity in the $800 billion building products distribution industry. An announcement today that global asset management firm Apollo Global is leading a new $1.2 billion investment in QXO has sent shares of the company soaring. As of 11:45 a.m. ET, QXO stock was trading at the morning high, up 20.2%. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool