On Friday, shares of specialty hardwood flooring retailer Lumber Liquidators Inc. (LL - Free Report) are soaring, up almost 19% in morning trading after the company settled its case with the Consumer Product Safety Commission (CPSC), allowing them to avoid a recall of laminate flooring made in China.
Lumber Liquidators has agreed to not sell the rest of its inventory of laminate flooring that was obtained from China. The company has not offered this particular flooring choice for over a year now.
"Today's announcement is not intended to cause consumers to pull up Chinese-made laminate flooring installed in their home," the CPSC said in a statement.
LL stock has lost over 70% of its value ever since CBS’s 60 Minutes reported that the company sold flooring that contained dangerously high levels of formaldehyde, a cancer-causing agent. According to a statement, it will continue to test the homes of customers who had purchased the flooring product.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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On Friday, shares of specialty hardwood flooring retailer Lumber Liquidators Inc. (LL - Free Report) are soaring, up almost 19% in morning trading after the company settled its case with the Consumer Product Safety Commission (CPSC), allowing them to avoid a recall of laminate flooring made in China.
Lumber Liquidators has agreed to not sell the rest of its inventory of laminate flooring that was obtained from China. The company has not offered this particular flooring choice for over a year now.
"Today's announcement is not intended to cause consumers to pull up Chinese-made laminate flooring installed in their home," the CPSC said in a statement.
LL stock has lost over 70% of its value ever since CBS’s 60 Minutes reported that the company sold flooring that contained dangerously high levels of formaldehyde, a cancer-causing agent. According to a statement, it will continue to test the homes of customers who had purchased the flooring product.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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