>> Advance Auto Parts tanks 33% <<
That's an amazing plunge. I owned their competitors - Autozone (AZO) and O'Reilly Automotive (ORLY), and they appear to be holding up well. I looked at Advance Auto Parts (AAP) but the 10 year chart is lousy, in stark contrast to AZO and ORLY which have stellar long term charts. AAP is also a much smaller company, with a much higher debt load / mkt cap, and their dividend payout ratio was over 70%, so was ripe for being cut.
Oh well, another one bites the dust, but losing 1/3 in a day is sobering. Hopefully not a harbinger of things to come for the broader markets.
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