Big drop in a stock that has been dragging the last year. This situation has quite a different profile that FISV which I also wrote about today.
AAP sold a large wholesale business to Carlyle in 2024. This resulted is dramatically higher gross profit margin.
Revenue growth is stagnant TTM. More than 10% of the store base has been closed or sold. These were underperforming stores, many in highly competitive CA.
There is no reason to rush into the stock right now but getting closer to the moment.
Edit: AAP is Advanced Autoparts, not AppLovin'.