Why CarParts.com Stock Fell 44% in 2022
Shares of CarParts.com (NASDAQ: PRTS) followed the market lower last year, finishing 2022 down 44%, according to data from S&P Global Market Intelligence.
Like other e-commerce stocks, CarParts.com stock soared during the earlier stages of the pandemic as stay-at-home orders and social distancing led Americans to do more DIY car repair and improvement, much like they spent more money on home goods and home improvement.
In 2022, however, that sales growth decelerated, and the stock followed downward as investors seemed to doubt its growth potential. The chart below shows the stock's performance over 2022.
Source Fool.com
