scorecard
  1. Home
  2. stock market
  3. Lumber Liquidators is exploding

Lumber Liquidators is exploding

Akin Oyedele   

Lumber Liquidators is exploding

Lumber Liquidators shares are exploding.

Shares rallied as much as 30% in trading on Friday afternoon.

The most recent news on the company came Wednesday, when it said it had reached a $10 million settlement with the Department of Justice.

The settlement related to a 2013 inquiry about the use of illegally imported timber from Russia, which the Lacey Act prohibits.

The stock has been punished this year, and is down 69%, following the "60 Minutes" investigation in March into alleged use of flooring sourced from China that contained excessive levels of formaldehyde. Its CEO and CFO since left the company.

The company said the show used an improper testing method.

Here's a chart of Friday's rally:

Screen_Shot_2015 10 09_at_12_22_06_PM

Google Finance

And here's a year-to-date chart of the stock:

Screen Shot 2015 10 09 at 12.21.52 PM

Google Finance

NOW WATCH: These animated maps that will change the way you see the world

READ MORE ARTICLES ON



Popular Right Now



Advertisement