Down 77%, Is It Time to Buy This Auto Parts Stock?
Like other e-commerce stocks, CarParts.com (NASDAQ: PRTS) was a big winner during the pandemic's height.
The little-known auto parts stock surged as revenue skyrocketed, benefiting from the twin tailwinds of e-commerce and spending on discretionary auto upgrades or repairs as the pandemic gave Americans free time and a reason to invest in their cars.
More recently, however, CarParts.com's growth has slowed and the stock has given up its pandemic-era gains. It's now trading down 77% from its peak in early 2021. Has the marekt gone to far and is it time to consider buying the dip on this auto parts retailer? Let's take a look.
Source Fool.com