Market Overview

Lumber Liquidators Rise On Gasparino Tweet

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Today just after 3:20 P.M., Lumbers Liquidators (NYSE: LL) spiked 6.2% after Charlie Gasparino tweeted, "#BreakingNews as $LL shares tank co insiders pressing bullish case w investors; raising possible sale to PE firm 340pm EDT @FoxBusiness."

Last Monday, shares of Lumber Liquidators surged after hedge fund manager Whitney Tilson said he covered his short. He added that he didn't think management was malicious, but truly had no knowledge of formaldehyde in products.

Additionally, last week, Goldman Sachs cut Lumber Liquidators from Neutral to Sell. Analyst Matthew Fassler believes that fundamentals may recover over time, this recovery is already priced into current equity valuation.

Posted-In: Hedge Funds Movers Media General

 

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