LL - Why Shares of Lumber Liquidators Are Down Today
Shares of Lumber Liquidators (NYSE: LL) fell more than 15% on Monday morning, vastly underperforming the market on a terrible day for stocks. The company does import product from China, so part of the drop could be related to coronavirus concerns. But the more likely culprit is the silencing of an anonymous advocate for the stock who had been credited for helping to push the shares higher in recent days.
Lumber Liquidators is still trying to recover from a 2015 report alleging that the retailer had sold and installed laminate flooring that contained higher-than-accepted levels of chemicals known to cause cancer. The stock is down more than 85% over the past five years, but in recent days had made a remarkable climb higher.
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