Lumber Liquidators Lawsuit

Discussion in 'Stock Market Forum' started by Turbolag, Mar 9, 2015.

  1. Turbolag

    Turbolag Active Member

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    Their stock was trading at like almost $80 a couple weeks ago, and today its in the high $20s.

    This is the result of a law suit.

    Seems like a pretty big deal after reading up on it.

    Maybe its a good time to buy up some shares? Or do you girls and guys think the company won't rebound from this issue?
     
  2. Turbolag

    Turbolag Active Member

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    I didn't think much of the lawsuit because they happen all the time. But when I read up on it and why its being filed then I kinda realized it was a pretty big issue.

    So I'm wondering, if we should follow the prices to see if they drop more. I didn't think they would get into the 20s last week, and I check today and its in the high 20s. So now I'm wondering if it will make it down to single digits.
     
  3. petesede

    petesede Guest

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    Honestly, it should be illegal for brokerages that are shorting a company to hire lawyers to file environmental and personal injury lawsuits against that company. The people who are shorting this stock are sparing no expenses to trash it.

    That said, as an investor.. stay clear. You have environmental lawsuits in California, personal injury lawsuits in multiple-states which could every easily go class-action, you have a 60-minutes segment that trashed the company, and on top of all that, you had a company that was missing earnings and had inventory issues anyway.

    There are times when you can really say that a stock lost 80% of it´s value in a few months, but it is still not undervalued. I would steer clear, those short sellers and their lawyers are going to crush this company.
     
  4. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I took a small short position recently and just covered today.

    It's a gamble right now - really up in the air. Lots of other companies out there.
     

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