Skip to main content

Market Overview

Why CarParts.Com Shares Spiked Over 48% Today

Why CarParts.Com Shares Spiked Over 48% Today, Inc (NASDAQ: PRTS) shares closed over 48% higher today.

What Happened: The California-based company said it's launching a dedicated shopping hub for electric and hybrid vehicles on Tuesday.

The e-commerce firm claimed that it now offers over 700,000 applications for repair, maintenance, and enhancement of hybrids, plug-in hybrids, and EVs. said it has aftermarket parts available for more than 25 vehicle makes — including those from Tesla Inc (NASDAQ: TSLA), Toyota Motor Corp (NYSE: TM), and Bayerische Motoren Werke AG (OTC: BMWYY).

The company is hoping that as EVs and hybrids age people are more likely to buy aftermarket parts.

President Joe Biden on Monday announced that the entire federal fleet would be converted to electric vehicles — made in the United States, sending the stocks of Workhorse Group Inc (NASDAQ: WKHS) and Lordstown Motors Corp (NASDAQ: RIDE) soaring.

Price Action: shares closed 48.16% higher at $20.18 on Tuesday and fell 2.38% in the after-hours session.

See Also: BofA: Auto Parts Retailers Have Strong Margins In $300B Market


Related Articles (PRTS)

View Comments and Join the Discussion!

Posted-In: Autoparts electric vehicles EVsNews Small Cap Movers Trading Ideas

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at