Jim Cramer on 10 Stocks With The Biggest Declines Last Week

4. Saia, Inc. (NASDAQ:SAIA)

Number of Hedge Fund Holders: 31

Including Saia, Inc. (NASDAQ:SAIA) stock in the list of biggest losers of last week, Cramer said:

“The fourth largest loser is a company called Saia, which operates in the less-than-truckload, LTL is what they call it, freight market. This stock fell 19.5% in the final three days of the week… All three of these freight companies reported earlier in February, turning in okay results but they all got hit last week in response to an ugly quarter from competitor TFI International. And by the way, also FedEx was rumored to become more of a competitor in the industry.

I don’t know about this group. When you throw in the softer macro data mentioned earlier, Wall Street just gave up on all these. The freight market’s been awful for years. Now we call it the freight recession, but if you’re waiting for bottom, you might wanna wait a little longer to get some confirmation [that] things are improving. I don’t see any improvement.”

Saia (NASDAQ:SAIA) is a transportation company offering less-than-truckload services along with value-added solutions such as non-asset truckload, expedited, and logistics services.