A look back in history shows how a key group of transportation stocks performed the last time there was a major port strike, according to Wolfe Research.
Against that backdrop, Scott Group, a senior analyst covering freight transportation at Wolfe, looked at transportation stocks in 2002, the last time there was a major port strike in the U.S. That strike, which lasted just 11 days and affected only West Coast ports, hurt transportation stocks throughout the protest, he said.
But those same stocks staged a major comeback in the month after the strike ended.
Here are how some key stocks performed during and after the last major strike.
Robinson Worldwide was among the biggest laggards during the last port strike.
Persons:
Wolfe, Joe Biden, Taft, Hartley, C.H, Robinson, It's
Organizations:
Wolfe Research, International Longshoremen's Association, Eastern Seaboard, Scott Group, ISI, Hunt Transport Services, FedEx, Norfolk
Locations:
North America, of Mexico, Eastern, Wolfe, U.S, West Coast, Norfolk Southern