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Why CarParts.com Stock Jumped 16% in November

TheMotleyFool

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Why CarParts.com Stock Jumped 16% in NovemberPhoto, wide shot, wide-angle lens, Department store, sunset photo at golden hour, photo by Art Wolfe: https://img.midjourneyapi.xyz/temp/57f223bf-67a0-476b-94dd-76010fccb266.png

Shares of CarParts.com (NASDAQ: PRTS) moved higher last month after the online auto parts retailer reported a better-than-expected bottom-line result in its third-quarter earnings report. The stock also seemed to benefit from signs that the Federal Reserve could start slowing its interest-rate hikes.

According to S&P Global Market Intelligence, the stock finished the month up 16%. As the chart below shows, most of the gains came after the company reported earnings on Nov. 9. Those gains also coincided with a cooler-than-expected inflation report, and the stock surged over the next two days.