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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.
Lumber Liquidators said the show used an improper testing method.
Here's a chart of Friday's rally:
(Google Finance)
And here's a year-to-date chart of the stock:
(Google Finance)
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