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Why CarParts.com Stock Rose 16% in December

TheMotleyFool

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Why CarParts.com Stock Rose 16% in December: https://g.foolcdn.com/editorial/images/715854/car-engine-parts.jpg

Shares of CarParts.com (NASDAQ: PRTS) were moving higher last month after the online auto parts seller announced a new hire and got a bullish analyst note. Additionally, the stock seemed to benefit from its positioning in a recession-proof industry and its beaten-down share price as it bucked the broader trend in the market.

According to data from S&P Global Market Intelligence, the stock gained 16% last month. As you can see from the chart below, shares soared from Dec. 7 before giving up some of those gains in the second half of December.