The Surprising Reason Why TrueCar Stock Is Up Today
Shares of online car-shopping service TrueCar (NASDAQ: TRUE) were sharply higher on Thursday afternoon. There was no news, and the company won't report earnings until next week, but Twitter chatter suggested that investors' sudden interest in TrueCar's shares might be a case of mistaken identity.
As of 1:45 p.m. EDT, TrueCar's shares were up about 14.2% from Wednesday's closing price.
As many auto investors know, TrueCar's shares have been known to move up or down sharply after earnings, depending on how the quarter went. But a rally on no obvious news is not something we see with this stock, typically.
Source Fool.com
