When I last wrote on Accuride (NYSE:ACW) on June 7, 2013, my thesis was it appeared to have positioned itself for a nice move in the second half of the year. It actually happened quicker than I thought, jumping from $5.10 per share at that time to $6.66 per share on July 18, 2013.
Not long afterward it began a precipitous drop, eventually plunging to as low a $3.10 per share in early November. From there it has regained momentum, closing at $5.70 per share on May 1, 2014.
Much of this performance has been because the overall auto parts industry Accuride operates in took longer to rebound than was expected. Only within the last month or so...
|FREE||SA PRO MEMBERS|
|IDEA GENERATOR||X||Exclusive access to 10 PRO ideas every day|
|INVESTING IDEAS LIBRARY||X||Exclusive access to PRO library of more than 15,000 ideas|
|SECTOR EXPERT NETWORK||X||Exclusive access to all sector experts for direct consultation|
|PERFORMANCE TRACKING||X||Track performance of all PRO stock ideas|
|PROFESSIONAL TOOLS||X||Professional Idea Filters to zero-in based on industry, market cap and more|