Market Overview

Lumber Liquidators Rallies After Settlement With California


Lumber Liquidators Holdings Inc (NYSE: LL) shares are trading higher by $1.82 at $13.84 in Tuesday's session. The catalyst for the rally is announcement that the company has settled with the State of California over floor quality issues for $2.5 million.

The issue had been changing hands around $12 until the news hit the tape around 11:40 a.m. ET.

It quickly spiked over $13, which was followed by a brief pullback to $12.30 before continuing its move higher. At this time, it is continuing to make new highs for the day.

If the rally continues, the next stopping point may be the pair of highs surrounding the $14 level from March 7 ($13.90) and March 8 ($14.11).

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