Give FedEx credit, in the face of knee-jerk reactions from a number of corporations surrendering to the demands of the gun control left in the wake of the Florida high school shooting, the courier delivery service company refused to cave.
And the decision paid immediate dividends, according to the stock price reaction.
Despite a liberal smear campaign, led by the Soros-funded group Think Progress that put students from Stoneman Douglas High School out front to call on corporations to sever ties with the National Rifle Association, Fed Ex announced that it will keep its NRA discounts.
The announcement led to calls to boycott the company, but Fed Ex enjoyed a $2.39 per share increase on Monday, which, given the 267.89 million outstanding shares, equated to a $640 million gain in value.
The company released a statement on Monday explaining that it “has never set or changed rates for any of our millions of customers around the world in response to their politics, beliefs or positions on issues.”
— FedEx (@FedEx) February 26, 2018
One of the more outspoken students from Stoneman Douglas, David Hogg, called on shareholders to sell their FED Ex stock and go with their competitors. He also called for a boycott of the company.
The call coming hours before Fed Ex’s forthcoming announcement.
“Sell FedEx stock! If they wanna stick with NRA we’ll stick with
@usps or @UPS,” he tweeted.
— David Hogg (@davidhogg111) February 26, 2018
And while the decision separates Fed Ex from weak-kneed companies like Delta, United and Enterprise, which cut ties to the pro-Second Amendment group, Fed-Ex did make it clear that the shipping company does have concerns about the dangers of “assault rifles.”
“FedEx Corporation’s positions on the issues of gun policy and safety differ from those of the National Rifle Association (NRA),” the statement said. “FedEx opposes assault rifles being in the hands of citizens. FedEx views assault rifles and large capacity magazines as an inherent potential danger to schools, workplaces, and communities when such weapons are misused. We therefore support restricting them to the military.”
The bottom line being the company will stick to what it does, offering a dependable courier delivery service, and let lawmakers affect national policy.
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