Lumber Liquidators Rallies After Settlement With Calformia

Lumber Liquidators

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 State of California over floor quality issues for only $2.5M. The issue had been changing hands around $12 until the news hit the tape around 11:40 AM. It quickly spiked over $13 that was followed by 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).