The value of US Auto Parts Network (NASDAQ:PRTS) shares were rapidly halved and were recently trading at $5.86 Wednesday morning. This stock is a great buy at a price near $5.86 for trading purposes.
Though in an early press release PRTS just reported a net loss for the fourth quarter of 2006 was $(0.02) million, net sales for fiscal year 2006 were $120.1 million, an increase of 101% from $59.7 million for fiscal year 2005. Net income for the fiscal year ending December 31, 2006 was $3.5 million.
Overreaction by the market in a volatile auto parts arena? I think so.
Disclosure: Author has a position in PRTS.
PRTS 1-yr chart