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Sunday, Aug 14, 2022
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TrueCar Inc., UTi Worldwide Inc. Among Week’s Biggest Movers

The Los Angeles Business Journal’s index of the area’s largest public companies rose for the week.

The weighted LABJ Stock Index went up less than one percent to close at 208. Gainers outpaced losers by 85 to 70 with six companies unchanged.

Of the companies on the list trading above $1, TrueCar Inc. of Santa Monica was among the week’s leading gainers. Shares of the company, which runs an online car buying platform, rose 24 percent to end the week at $23.99.

Long Beach logistics company UTi Worldwide Inc. also had a strong week. Shares of the company rose 20 percent to $11.03.

NetSol Technologies Inc. of Calabasas, which makes software for the financial service industries, was among the week’s biggest losers. Shares of company fell 11 percent to close at $3.08. The decline came as the company faced possible class action litigation over claims that its next-generation product was not expected to be completed when promised and had not commanded serious interest from its customers.

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