Sorl Auto Parts Crashes And Burns After Q2 Miss

Sorl Auto Parts, Inc. SORL shares are trading lower by $1.23, or 17 percent, at $5.74 in Monday's session. The catalyst for the sharp decline is a Q2 EPS miss of of 2 cents along with a slight sales miss.

After a lower open, Sorl continued in that direction until finding a bottom at $5.28 and reversing course. That low coincides with its May 15 low ($5.19). Interestingly, that low was made on the same day of its Q1 beat, when the stock added over $1.00, rallying from $4.54 to $5.86 after solid EPS and sales beat.

So far, the rebound off that low has been halted at $6.34, which is a penny above the lower-end of Friday's session ($6.33) for the stock.