Advance Auto Parts reported mixed earnings this morning sending shares down sharply. A weak guide on top of mixed earnings was not what the Street was looking for.
The stock is currently trading down 23% intraday, more than double its 11% expected earnings move and extending its multi-year underperformance versus peers.
Dennis Dick, Chief Market Strategist at Stock Trader Network called it, “worst of breed for a long time.” Levels of interest are provided by Joel Elconin, Chief Technician at the Stock Trader Network.