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Rail stocks began to move late Thursday after Bill Ackman of Pershing Square made a comment at Invest for Kids in Chicago.
According to reports, Ackman commented that Canadian Pacific may be looking to merge with a rival of CSX in the wake of a deal with CSX falling through.
Shares of CSX Corporation (NYSE: CSX) moved up 2.48 percent in the aftermarket to $36.00 while Norfolk Southern Corp. (NYSE: NSC) shares spiked up 5.28 percent to $116.57 in after market trading.
Canadian National Railway (USA) (NYSE: CNI) began to move higher in the aftermarket, trading at $69.47, up 0.29 percent.
Meanwhile, both Union Pacific Corporation (NYSE: UNP) and Canadian Pacific Railway Limited (USA) (NYSE: CP) indicated higher.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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