Shares in Advance Auto Parts (AAP) have already rebounded from the March sell-off due to the COVID-19 scare. The market is shrugging off any short-term uncertainty and has focused instead on the long-term prospects of AAP, which after struggling to integrate the acquisition of General Parts International, or GPI, is finally starting to show some promise.
Conditions might become favorable for the DIY and DIFM (do-it-for-me) markets. The last economic recession of 08'-09' boosted sales growth across the sector. That could also be the case if the economy doesn't rebound in a "V" shape recovery.