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Spotting The Buy Point: LKQ Offered Two Bites At The Apple.(B)(INVESTOR'S CORNER)
Byline: KATHARINE STALTER
IBD reminds readers to focus on what's new when it comes to investing. That is, find companies with new products or services and new management, or firms that have gone public in the past eight years.
Such companies have the potential for growing profits through innovation. Those profits often beget big stock gains.
If you're considering buying a stock that's new to the public market, make sure you've already studied its products or services, and have an understanding of how it differs from more established rivals.
But you also want to keep an eye on its chart. Recent IPOs are no different from any other stock: You want strong sales and earnings growth, and strong upward price movement in brisk trading.
LKQ went public in October 2003 at $13 a share. The Chicago-based company salvages and resells parts for cars and trucks.
The stock rallied to a high of 20.43 in January 2004, but failed to advance beyond that point until December of that year. Earnings growth fell in the second and third quarters of 2004. It bounced back for a 57% gain in ...
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