This Online Retailer Encountered Substantial Buying Pressure On Strong Q3 Revenue Results

By: Dylan Sikes – AllPennyStocks.com News

Wednesday, October 30, 2024

A California-based automotive retail company found quite a bit of success on Wednesday after the company reported better-than-expected Q3 revenue results. It’s not every day that we talk about fundamental drivers for smaller companies instead technical insights, however quite a few of the companies that come across our desks have strong financials.

Traders were quick to respond to the news today as they snatched up shares of CarParts.com Inc. (Nasdaq:PRTS), pushing shares of this micro cap up to $0.92/share (+23.87%) at the session high. This move was the first sign of life from this stock following a failed rally earlier this summer, but could be an indication of things to come!

CarParts.com Inc is an online provider of automotive aftermarket parts and repair information. The company principally sells its products to individual consumers through its network of websites and online marketplaces. The company's products consist of collision parts serving the body repair market, engine parts to serve the replacement parts market, and performance parts and accessories.

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