Whitney Tilson: Why I'm Writing So Much About Lumber Liquidators
Value investor Whitney Tilson penned his 12th article on Lumber Liquidators Holdings Inc (NYSE: LL) on Seeking Alpha Friday morning. Tilson denied trying to influence the stock price, though it was nearly 1.5 percent lower – but instead said that he is doing it out of "outrage" that Lumber Liquidators is selling a "very dangerous product."
Tilson also pointed to flawed analysis as reasons that he is going public so frequently. He also argued that since all the analysis and research is done by himself, he appreciates the "scrutiny" that going public with his idea presents. Also, going public helps bring others who may have information into his orbit.
Tilson maintained that Lumber Liquidators is not a trade for him, but a long-term thesis that should see the stock decline into the teens.
In closing, Tilson wrote, "I take very seriously the fact that I have taken actions that have contributed to a huge disruption and untold expenses for Lumber Liquidators, severe losses for investors long the stock, and significant effort and expense on the part of numerous regulators."
But he has no plans on stopping.
Shares of Lumber Liquidators traded recently at $33.70, down 1.4 percent.
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