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  First Thoughts

    Dan Gilmore


    Supply Chain Digest

July 14, 2023

Supply Chain Stocks 1H 2023

Supply Chain Software Stocks Power Strong Gain in Our Index


I am a little out of my normal sequence for looking back on the 1H year in supply chain, as I usually start with the top stories by month.

But because I view it as needing more timely delivery, I am going to start with a look at how supply chain and logistics stocks have faired in the year ending June 30, 2023.

The overall market, as measured by the S&P 500 index, was up 17.6% in the past year. But that very modest gain came after a big drop in the market from August to October, followed by a jagged rise ever since, such that for the overall market was up in the first half a strong 15.7%.


Gilmore Says....

As can be seen, it was a strong year for our supply chain software stocks, with all but two up nicely (between 29% and 70%).

What do you say?

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Meanwhile, our supply chain and logistics stock index, which is made up of more than 20 stocks across freight carriers, logistics service provider, and supply chain and software vendors, beat the S&P, with a gain of 18.0% in the past year, using an unweighted average of the 23 stocks in the index. That with a 76.8% drop in one stock, LTL carrier Yellow Freight (though that was offset by more than a 100% gain in Yellow rival XPO Logistics.)


Using an unweighted average means all results are factored the same way, regardless of a stock's market cap.


In early 2021, SCDigest re-launched our weekly supply chain and logistics stock market index, which tracks the market performance of more than 20 publicly traded companies.


We ran this feature weekly a number of years ago, but discontinued it for reasons I can't really recall. But I think it was smart to bring it back – it's intersesting and drives a lot of web site visits.

As an amateur investor like many/most of us, I thought it might be interesting for you to see how supply chain stocks are faring on Wall Street.

Below you will find our weekly supply chain stock index for the week ending June 30, including performance for the past year.


Supply Chain and Logistics for Week Ending June 30, 2023




Source: SCDigest Analysis


As can be seen, it was a strong year for our supply chain software stocks, with all but two up nicely (between 29% and 70%). The two laggards: American Software (parent of Logility), which was down 35% and e2Open (down 28%.)

Among the carriers and LSPs, besides XPO the largest gainer for the past year was another LTL carrier, Old Dominion, up 44%, followed by freight forwarder Expeditors International, which was up 24%.

Outside Yellow, there have were just a few losers over the past year, starting with 3PL CH Robinson, down more than 6%, followed by rail carrier Union Pacific, which fell more than 4%.

RFID firm Impinj managed a 58% gain on the year, but as usual it was a wild ride, as seen in the chart below:


Impinj Stock over the Past Year


As I keep saying, buying this stock on the dips the past few years has been a very smart investment.


Think I will leave it at that, and let you peruse the table on what interests you.


Thinking of adding carrier Schneider to the index - please let us know any other suggestions.

Any reaction to supply chain stock performance? Let us know your thoughts at the Feedback button (email) or section below.

Your Comments/Feedback.




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