Classic Head and Shoulder formation. AAP was in a great business till
a) Starboard took hold of the board, and
b) Their market started disappearing to online retailers.
c) Newer E-cars require much less of this
d) Their inventory and margin issues are still unresolved. And these are tough things to resolve. You either get them right from beginning (Walmart, Costco) or you get them wrong (kmart, Rona(canadian)).
At this point, there is too much fighting on their board to make things work for the company, and increasingly every mechanic and do-it-selfer is ordering parts online. I got my windshield for infinity at $160 shipped directly. Compare that to retailer prices of $400-$647 (yes at the dealer).
Looking at daily volume, it smells of distribution.
a) Starboard took hold of the board, and
b) Their market started disappearing to online retailers.
c) Newer E-cars require much less of this
d) Their inventory and margin issues are still unresolved. And these are tough things to resolve. You either get them right from beginning (Walmart, Costco) or you get them wrong (kmart, Rona(canadian)).
At this point, there is too much fighting on their board to make things work for the company, and increasingly every mechanic and do-it-selfer is ordering parts online. I got my windshield for infinity at $160 shipped directly. Compare that to retailer prices of $400-$647 (yes at the dealer).
Looking at daily volume, it smells of distribution.