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Monday, Jan 30, 2023
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U.S. Auto Parts Network Inc., Stamps.com Among Week’s Big Movers

The Los Angeles Business Journal’s index of the largest local public companies rose slightly for the week. The weighted LABJ index rose 1 percent to close at 232, with gainers outpacing losers 83 to 67. Six companies closed the week unchanged.

Among stocks trading above a dollar, Carson online retailer U.S. Auto Parts Network Inc. was one of the week’s leading gainers. Shares rose 28 percent to close at $2.04 on Friday after Mehran Nia, its co-founder and former chief executive, wrote a letter calling on the company’s board to explore a sale.

El Segundo postage seller Stamps.com also had a good week. Shares rose 18 percent to close at $72.94 after the company reported strong first-quarter earnings, beating analysts’ estimates.

Spark Networks Inc., the company behind special-interest matchmaking sites such as ChristianMingle.com and JDate.com, was among the week’s losing stocks. Shares fell 20 percent to close the week at $3.17 after the company reported lower than expected earnings.

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