The Tell: A bunch of traders just bet big on this ‘massive turnaround play’ in hopes of scoring a short-term windfall [MarketWatch]
LL Flooring Holdings, Inc. (LL)
Last ll flooring holdings, inc. earnings: 2/25 06:00 am
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Source: MarketWatch
A bunch of traders just bet big on this ‘massive turnaround play’ in hopes of scoring a short-term windfall Lumber Liquidators still hasn’t recovered from that damning “60 Minutes” report in March 2015 , which knocked the stock off its $100-plus perch and ultimately all the way down into single digits, where it’s been stuck for months. In Thursday’s trading session, however, the stock LL, +27.78% showed some serious signs of life early, rallying 27% to $10.40 to buck the pullback on the S&P 500 SPX, -0.71% and the Dow Jones Industrial Average DJIA, -0.68% . One corner of the internet seems to believe there’s more to come. A lot more. On Reddit’s WallStreetBets board, where risk-on never seems go off, a contributor going by the NSFW name of closethef***inglight laid out several reasons as to why he believes there’s a “massive turnaround play” taking shape. Here are three of the bulletpoints of his bull case: 1. The housing and renovation indexes ITB ITB, +0.56% and XHB
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