Shares of moving and storage solutions provider U-Haul (NYSE:UHAL) jumped 2.3% in the afternoon session after the company announced several new dealer partnerships, signaling a continued expansion of its rental network.

This included an agreement with Watts & Sons Supermarket in Millers Tavern, Virginia, which will now offer U-Haul trucks, trailers, and other moving supplies. This partnership was one of several similar deals announced, as the company continued to grow its footprint through agreements with local businesses across different states. By adding neighborhood dealers, U-Haul made its services more accessible to customers in various communities, a move that investors appeared to view favorably.

After the initial pop the shares cooled down to $57.34, up 1.9% from previous close.

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U-Haul’s shares are not very volatile and have only had 4 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

U-Haul is down 16.9% since the beginning of the year, and at $57.34 per share, it is trading 26.9% below its 52-week high of $78.40 from October 2024. Investors who bought $1,000 worth of U-Haul’s shares 5 years ago would now be looking at an investment worth $1,603.

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