FX.co ★ UPS Stock Plunges 16% On Weak Revenue Forecast, Amazon Cutback

United Parcel Service, Inc. (UPS) experienced a significant drop in share price, falling 16.84% to $111.25 during Thursday's morning session, due to the company's announcement of projected annual revenue falling short of expectations.

Opening at $117.39, the shares hit a low of $110.81, marking their lowest level in a year. Over the past 52 weeks, UPS stock has ranged between $110.81 and $158.95.

The courier company has forecasted its revenue to reach $89 billion by 2025, which is below the anticipated $94.9 billion predicted by analysts. For 2024, UPS reported revenues of $91.1 billion, with 11.8% of that revenue attributed to its business with Amazon.