PRTS got hammered Monday 8/22 to the tune of 13-14%, and other
2% today on no news that I can see. Anybody have any
clues? It is suddenly back down to the low temporary level of
8/2.
U.S. Auto Parts Network, Inc. (PRTS) - more of
a longer term fundamental play.
They filed an S-3 registration statement for some existing
holders which led to the selling. Thus it's viewed as a dark cloud
overhang for a period of time. These are not newly issued shares so
its non-dilutive but in my opinion it will take some time for the
S-3 to be declared effective and for new buyers to absorb whatever
shares the sellers may choose to sell. The stock made a nice
move into resistance last week and got overbought technically as
well.
I will discuss further in tonight's newsletter.
Newsletter
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!
PRTS - Update - big drop yesterday
Posted by Walt on 23rd of Aug 2016 at 05:08 pm
PRTS got hammered Monday 8/22 to the tune of 13-14%, and other 2% today on no news that I can see. Anybody have any clues? It is suddenly back down to the low temporary level of 8/2.
U.S. Auto Parts Network, Inc. (PRTS) - more of a longer term fundamental play.
They filed an S-3 registration
Posted by steve on 23rd of Aug 2016 at 05:49 pm
They filed an S-3 registration statement for some existing holders which led to the selling. Thus it's viewed as a dark cloud overhang for a period of time. These are not newly issued shares so its non-dilutive but in my opinion it will take some time for the S-3 to be declared effective and for new buyers to absorb whatever shares the sellers may choose to sell. The stock made a nice move into resistance last week and got overbought technically as well.
I will discuss further in tonight's newsletter.