Lennar Corporation LEN shares are trading higher by $1.76 at $54.50 in Tuesday's session. The catalyst for the rally is Q2 EPS beat of 13 cents along with revenue beat of $430 million.
After a higher open, Lennar immediately peaked at $55.50 and reversed course. Within two minutes, the stock was $2.00 off that high before finding support just below the top of Monday's range ($53.31) at $53.28. From there, it rebounded to make a new high for the session at $55.75 before once again reversing course and falling back into the mid-$54.50 handle.
The current high marks the highest level for the stock since August 2015, when it peaked at $56.04.
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