Why Advance Auto Parts Stock Plunged to Its Lowest Level of 2024

Key TakeawaysAdvanced Auto Parts missed expectations with its second-quarter earnings results and lowered its full-year guidance.The company also announced the sale of its wholesale distribution arm for $1.5 billion.CEO Shane O’Kelly said the company faced a "challenging demand environment."Shares in the auto parts retailer fell as much as 22% early in Thursday's session, hitting their lowest level since last October. Advance Auto Parts (AAP) shares plunged after the company announced quarterly earnings th ...