Sorl Auto Parts Surrenders Some Early Gains After Q3 Beat

Sorl Auto Parts, Inc. SORL shares are trading higher by $1.31 (20 percent) at $7.30 in Wednesday's session.

The catalyst for the rally is a Q3 EPS beat of 27 cents along with sales beat of $37.6 million.

After a higher open, Sorl continued in that direction until peaking at $8.45 and reversed course. That level is just shy of its yearly high from January at $8.70. Since reaching that high, it has drifted lower and continues to make news for the session. As of 10:25 a.m. EST, the low for the day stands at $7.10.

In order to fill the void in price and reach the upper-end of Tuesday's session, it would need to fall to $6.42.