As per always, smaller companies are much more affected, such is...

As per always, smaller companies are much more affected, such is the tragedy of moving on the register too early in anticipation of the upswing that should announce itself if not later this year, than surely in 2025?

But 'small' does by no means equal guaranteed failure. Supply Network ((SNL)), which operates as distributor of after market parts to the commercial vehicle industry, delivered a much stronger-looking quarterly market update and its shares haven't sold off in the following days, even with a strong rally preceding.

Supply Network (market cap $981m) is widely regarded as the superior Quality operator in its sector. This label has been re-affirmed once more as competitor Maxiparts ((MXI)) has fared significantly worse over a prolonged period of time. Two weeks ago, Maxiparts issued a good old fashioned profit warning that has pushed the share price below $2 yet again (it has been as high as $7 in the past).

Shares in Supply Network, by the way, have surged to a fresh all-time record high. This goes to show, yet again, successful investing involves a lot more than simply picking a cheap-looking share price.