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Why Mohawk Industries Stock Is Up Today

·2 min read
Why Mohawk Industries Stock Is Up Today
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Flooring manufacturer Mohawk Industries (NYSE: MHK) is riding the housing boom, last week reporting better-than-expected earnings. Over the weekend, analysts bet that the strong performance would continue, causing the stock to surge 10% higher at the open Monday. On the company's post-earnings call, CEO Jeff Lorberbaum attributed the beat to the red-hot housing and home improvement market, and said he's optimistic that post-pandemic business reopenings will help to fuel increased demand in the quarters to come.