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US Express/Variant Stock Down 74% In 1 Year's Time - Is The End Near?

Discussion in 'Questions From New Drivers' started by BeHereNow97, Dec 29, 2022.

  1. Dec 29, 2022 #1
    BeHereNow97

    BeHereNow97 Heavy Load Member

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    If I remember right, about a year or two ago US Express did a "rebrand". Not sure what happened financially or managerial wise within the company, but they changed the name from US Express to "Variant" and I think they got a lot of new trucks (not sure on that though).

    In one year's time, US Xpress Enterprises Inc Stock (USX) is down a whopping 74% at $1.56 per share right now! At the time of this writing, USX is now about $0.50 cents from being delisted from the stock exchange (will happen if the stock goes below $1 per share).

    Anybody here drive for the Variant and would like to share their experiences?

    Also, what do you guys think, is this the end of Variant/US Express? Or do they rebound from this? Or perhaps another Mega buys them up?
     
    BeHereNow97, Dec 29, 2022
    BeHereNow97, Dec 29, 2022
    #1
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  3. Dec 29, 2022 #2
    nikmirbre

    nikmirbre Road Train Member

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    I dont think they changed their name to Variant. Variant was part of US Express' OTR operations.
     
    nikmirbre, Dec 29, 2022
    nikmirbre, Dec 29, 2022
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  4. Dec 29, 2022 #3
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    They did not do a rebrand. Variant is a separate deal under US Xpress. Whether they keep Variant going or not is up in the air right now, so I've heard. USX has some good contracts so I'm sure they would be an attractive target for some other company to get. Sans Variant.
     
    kemosabi49, Dec 29, 2022
    kemosabi49, Dec 29, 2022
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  5. Dec 29, 2022 #4
    BeHereNow97

    BeHereNow97 Heavy Load Member

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    Okay maybe one of you two can help me out. Before 2020 I don't think I ever saw the "Variant" name on any trucks over the road. I saw US Express instead. For the past year or two, I see the Variant names on the trucks and very rarely see the name US Express on trucks now.

    So was Variant its own thing before US Express bought it? If so then were they still called Variant, because I never saw the name Variant on trucks until a year or two ago.
     
    BeHereNow97, Dec 29, 2022
    BeHereNow97, Dec 29, 2022
    #4
  7. Dec 29, 2022 #5
    Eddiec

    Eddiec Road Train Member

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    Eddiec, Dec 29, 2022
    Eddiec, Dec 29, 2022
    #5
  8. Dec 29, 2022 #6
    kemosabi49

    kemosabi49 Trucker Forum STAFF Staff Member

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    Variant was started by USX. Supposed to reduce costs but I don't think it has worked out that way. There has been some on Freightwaves recently about it but I don't recall what they said.
     
    kemosabi49, Dec 29, 2022
    kemosabi49, Dec 29, 2022
    #6
  9. Dec 29, 2022 #7
    flood

    flood Road Train Member

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    1: yes it WAS a rebranding. Changed the us xoress signs at most of terminals with new signs "Variant"

    2: ordered a bunch of new GRAY trucks with Variant logos *yellow V on the roof and door) cab number start with "v". You will not see a Variant pulling a Variant trailer because they don't have any, that's why they pull usx trailers

    3: Variant was a FAILED experiment.... dispatch was 100% computer driven and was made to cut downtime between loads for driver... it ended up doing the opposite miles down to 1,800 a week. Was supposed to cut down on driver turn over but turn over went up to 150%..!

    4: usx fired the Variant president.

    5: usx closed Variant headquarters in Atlanta... costing them around $1.000.000 to break the lease.

    6: moved everyone to usx headquarters in Chattooga...

    7: usx trucks are red, Variant trucks are gray BUT I have seen some gray usx trucks.. they were so sure Variant was going to work that they instead of ordering red trucks they only ordered gray trucks...

    8: Variant lost about $20,000,000 in the last 2 quarters.

    9: The plan for now is Variant will be the otr side and usx will be the dedicated side.

    10: The only way they will survive is if the kick out the CEO Eric Fuller... Eric has a history of running trucking companies in to the ground BUT this time he doesn't have daddy Max Fuller to step in and sell off to save money...
    The worst was he started a trucking company inside usx and ran it so well that daddy had to sell it off... the NEW company that aquire it is now known as "Forward Air"
     
    flood, Dec 29, 2022
    flood, Dec 29, 2022
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  10. Mar 22, 2023 #8
    BeHereNow97

    BeHereNow97 Heavy Load Member

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    SON OF A #####!!!!!!!!!!!!!!! I MISSED IT!!!!!!! Knight-Swift has bought USX and USX stock QUADRUPLED in 1 single day from $1.50 per share Monday March 20 to now just at $6 per share at the closing bell on Tuesday March 21!! That's double digit thousands of dollars in profit off of one single day.......

    I even made a thread about it, son of a ##### why couldn't I have just thrown a couple thousand at it and hoped for the best???!!!! I EVEN MADE A THREAD ABOUT IT!!!!!!!!!!!!

    ###### lol
     
    Last edited: Mar 22, 2023
    BeHereNow97, Mar 22, 2023
    BeHereNow97, Mar 22, 2023
    #8
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  11. Mar 22, 2023 #9
    flood

    flood Road Train Member

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    I the deal knight-swift will buy it for 310% of the share price on 3/20/23.. that was $1.50 = $4.60
     
    flood, Mar 22, 2023
    flood, Mar 22, 2023
    #9
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