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On Dec 3rd the stock closed at $230 and on Friday it closed $184, that is $46 down or 20% down. The only news I could find is the FedEx Express CEO is out on Dec 7th and replaced by another company veteran. Not sure whether the investors didn't like the replacement or they are concerned there is a reason behind the replacement (like a big earnings miss or something).

The earnings are scheduled on 12/18th.

Wondering whether the stock is over-reacting to executive departure, note he is the CEO of their biggest segment, a unit responsible for $36 B in revenue, member of their strategic committee and 57.

I will be opening a small position and if the stock drop significantly may add to it. I think FedEx is an outstanding company and can grow slightly above GDP and with their study buyback can grow EPS in high single digits.
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