Top 20 Falling Stocks with Unusual Volume

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10. QXO, Inc. (NYSE:QXO)

QXO is a software company that offers products like Accumatica, Sage, and similar ERP products. It also provides training, support, and other technical services related to these products. The company’s stock is down 8.02% in a week on a relative volume of 2.05.

On April 16th, QXO announced that it would raise $500 million through a stock offering. The amount will be used to help complete the Beacon Roofing Supply acquisition. While the news caused the stock to tank, the move is in line with the company’s objective of disrupting the building products distribution industry via acquisitions.

The firm aims to disrupt through the use of modern technology, combining the power of e-commerce with data analytics and logistics expertise. Prior to Beacon Roofing Supply, QXO had also offered $9.4 billion to Rexel, a French electrical distributor. That deal didn’t go through, but it gave an idea of how serious the company is in achieving dominance through acquisitions.

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