That's one angle to perceive; no earnings in the next few quarters, just losses.
the other angle: money needed to buy more companies to build the expansion.
If only XPO share price rose, XPO could have used its shares to buy companies.
With market correction around the corner & XPO stuck in a trading range, shares trade 22-25 remote.
XPO should hold 12-13 on the downside..