Why QXO Rallied This Week

Shares of QXO, Inc. (NYSE: QXO) rallied 15.6% this week through 1:35 p.m. EDT Friday, according to data from S&P Global Market Intelligence. QXO is the building materials distribution company helmed by entrepreneur Brad Jacobs, who founded QXO in June 2024 with the strategy of acquiring building products distribution companies in order to consolidate the large and fragmented industry. It's a strategy he perfected previously in the construction equipment rental industry with United Rentals (NYSE: URI) and ...