$CARS Positive trading in CARS, Has it found a bottom?

Despite posting a loss in the quarter the stock has traded very well today on what has been a difficult session. They main loss was attributed to a decline in dealerships but the company is very upbeat about the drastically improved brand awareness. We think there is a good case for taking a long position above $22.50
Cars.com Inc. (CARS) on Friday reported a first-quarter loss of $9 million, after reporting a profit in the same period a year earlier.
The online automotive marketplace posted revenue of $154.2 million in the period, which topped Street forecasts, analysts expected $152.4 million.