Lumber Liquidators is surging
Shares of Lumber Liquidators climbed more than 9% on Friday afternoon.
The stock is down 79% for the year, following an episode of "60 Minutes" in March that showed that the company's laminate flooring sourced in China contained excessive levels of formaldehyde. The company is the subject of a federal investigation and has since pulled the flooring from shelves.
CBS is rerunning the episode on Sunday.
Earlier this month, the company reported a second-quarter loss. It noted that its net sales are still being slammed by "unfavorable allegations".
Here's a five-day chart showing the pop in shares on Friday:
- Crypto FAQs answered — everything you need to know about crypto regulations, trading, taxes and CBDC in India
- Google and Microsoft hiring interns in India — Check out eligibility, job descriptions and other details
- AWS appears to be down, and it's taken popular services like Ring smart-home systems, Netflix, and Disney+ with it
- Gen Bipin Rawat, his wife, and 11 others killed in chopper crash near Coonoor in Tamil Nadu
- RBI keeps lending rates intact, remains accommodative
- India remains to be ranked as the fourth most powerful country as per Asia Power Index 2021
- Although Shriram Properties has solid future prospects, Omicron may mess things in the near term
- IPL to Covid vaccine — Here’s what Indians searched on Google the most in 2021