Advance Auto Parts A Wreck After Q3 Miss

Advance Auto Parts

shares are trading sharply lower by $28.67 at $166 in Thursday's session. The catalyst for the sharp decline is a Q3 miss of $0.14 on slightly lower revenues. The carnage from the premarket session has continued into the regular session. After a lower open ($173.75 vs. Wednesday's close of $194.67), it managed a brief rally to $177 before another wave selling began. So far, the decline has taken the issue to $164.72 and it is attempting to remain in the $165 handle. That marks the lowest level for the issue since it bottomed on August 24 at $151.30.