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Lumber Liquidators Holdings, Inc. (LL)

NYSE - NYSE Delayed Price. Currency in USD
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20.71+0.28 (+1.37%)
At close: 4:00PM EDT
20.70 -0.01 (-0.05%)
After hours: 07:55PM EDT
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  • O
    Ooh Blah Dee
    A sign of the times? From our website today, (on my browser, directed at my computer, at least) --

    "Today Only!
    Online Exclusive Offer.
    Save an extra $100 instantly on every $1000 you spend online *
    Discount automatically applied in cart.
    ...
    *Applies to new merchandise orders over $1,000 before tax placed on June 21, 2021, online only. Does not apply to services, including delivery or installation estimates. Cannot be applied towards existing orders or previous sales. Void where prohibited."

    Is the glorious reopening stumbling? Are we trying to hold the line vs. Amazon's Prime day? Are we leaning in on pricing to meet a sales goal toward the end of the quarter?
  • W
    Wizzles
    I was quite worried about margins for Q1. However, after their report came out I became much more competent. My concern was that with tariffs reinstated and having worked through their inventory, supply chains were damaged, and shipping costs were through the roof, we would possibly be seeing devastating results. This turned out not being the case and their earnings had major a major positive surprise.
    The next fudster argument is that they can't compete with the big stores. The flooring market is tremendously fragmented. Take a moment and search for flooring stores. Most of you will see quite a variety. Yes, I feel like a lot of smaller businesses will fall prey to consolidation. However, LL is one of the big fish in the sea, as stores close their piece of the pie will grow and not shrink. I don't see one company capturing 100% of the sales from a ma-and-pa shop closing down. This hasn't been the case yet, and I don't see it happening tomorrow.
  • C
    Caroll
    My apologies to LL Longs. I kept buying and every time I buy the stock goes down. I'll quite buying and see if that helps. This stock is just weird given it's PE ratios and outlook.
  • W
    Wizzles
    Another two stores open on June 28th. More revenue coming.
  • n
    nuhusky82
    ?? Who or what institution drove this stock over $30 last fall, what drove it up, some positive not great news? Who is driving this down now? Institution or shorts on positive not great news? This is maddening. Where are the Officers of this company, earn your paid, maximize the stockholder value.
  • W
    Wizzles
    Just like to point out FND was pretty much unchanged for the day while LL dropped 3.5%. This is on no news. I considered today a strong buying opportunity. Remember what Buffet always says, "be greedy when James is shorting".
  • M
    ManBySea
    Couldn’t help myself- loaded up significantly at $20!!
    Bullish
  • M
    Matt
    This stock is going to bounce. Née stores finally. Growth and profit will be the driver again.
    Bullish
  • J
    James
    The heavy volume is positive.
  • K
    Kevin
    Something is very wrong. I wonder how much the 40% decline in lumber in the last month will hurt them? If they have inventory at that level or contracted buy orders, it could be very bad. 16. of the last 21 days are down.
  • M
    M
    I doubled my position this morning. I may have made a mistake.
  • M
    ManBySea
    I’m not falling for it - one or two deep pocket short manipulations only inspires me to keep going long - thank you in advance for my future gains manipulators!
    Bullish
  • W
    Wizzles
    I'm blown away that their fcf went from -57M 2018, -19.6M 2019 +141M 2020. That is a tremendous turnaround. I look forward to see the ROIC we'll see with it. I'm sure it was difficult to efficiently spend capital previously when so much went into lawsuits and litigation, but they should be in calmer waters now
  • O
    Ooh Blah Dee
    IR page revamped -- New neutral colors. HTML links no longer open to whole document but to outline view. meh.

    Here's a tip and a fact from Ooh's almanac -- It'll take a lot more than that to improve investor sentiment. And if every page we "redecorate" loses some of its functionality, it'll be a real drag on web-based sales for weeks if not quarters. But hey, if it gets rid of Tom Sullivan's signature yellow, it'll be worth it -- that is, to our ad agency, and our marketing interns trying to write their resumes.

    Separately, checking options this morning after nearly a week, I note over 1500 contracts changed hands yesterday, with an atypically high third of that in out-of-money puts expiring in the next ten days. If it's true that puts expire worthless because most of their volume is sold by people in the know, then the next week or so should show no further drops in price. Free advice worth every penny ...
  • J
    Josh
    I see a nice W on this chart. Looks like a big win if you buy soon! Next week could be big!
    Bullish
  • J
    James
    Looking like 12-13 is real possibility, albeit toward end of year.
  • W
    Wizzles
    Couldn't break the $20 support. Trades too far below fair market value with too many tailwinds in the CAGR of hard flooring market, which was already high before the COVID bump came along. They've diversified heavily out of China. With tarrifs out od the way, they only need production ramped up. It will come. Manufacturing takes time to ramp. This company is a multi-bagger without a doubt. As it has consolidated I'm a new investor in LL, this is my majority holding, and I cannot see selling this one. Once they have 2021 cash flows under their belt, this will be irresistible stock. Value investors are hungry for good deals like this one. Luckily, I can see it coming many quarters in advance. The shorts here cannot deny with a straight face that each quarter will have good earnings and cash flows this year.
  • M
    Michael
    I think Zack's recommendations are like kryptonite to Superman. Individual investors seem to think that the party is over before it even begins. Institutional investors have their own reasons for churning in and out. But they're such a huge chunk of ownership we're left with an "investment" that seemingly ignores the actual fundamentals of the company and it's results.
    Bullish
  • O
    Ooh Blah Dee
    The chances of listening in to yesterday's annual meeting are not looking good this morning. Going to virtualshareholdermeeting, ours is listed under past meetings, but only says "Broadcast has ended, thanks for watching!" It appears LL IR may have chosen to seal the meeting for rebroadcast, which is an option apparently that many companies choose. For example, for these May 18 meetings: Old Second Bancorp offers an "event summary" of the May 18 meeting, with registration; Sealed Air chose to say "Thank you for joining. The meeting has now concluded"; and Chipotle has a 28 minute video, slide show, and meeting materials. A quick look at meetings from a week earlier shows the same mix of replay options.

    So I guess it's up in the air. We may have to write our own transcript as best we can from memory.

    Off hand, I recall 85% of shares voting. Everyone seemed prepared for the questions. Charles was forthright, but not to the point of stubborn or dogged, responding to an antagonistically worded, but paraphrased, question on PE valuation relative to peers. I think he stated generically to the effect that the strategy of improving sales, margin, etc. would improve earnings. The question challenging marketing generally, and advertising, lack of large format stores, and FND response specifically was answered similarly to the effect of continually monitoring and improving, etc. Board Chair Nancy was able to quickly recite the special project pay of $20,000 a month for her, and $2000 per meeting for the two or three directors working the project(s). (I forgot their names.) She stammered briefly, only one third as long as last year, and it wasn't over any particular awkward point she was making. I have to give her the benefit of the doubt that she may just have a very intermittent stutter/speech thingie. The question on our earnings being misreported by half, was answered by CFO Nancy, who said that it apparently came about due to some taxed adjusted number being misused, and that they have asked that it be corrected. I know we won't get back those three months of having our lamp under a bushel, but management must now know investors look for more than just the SEC filings to be correct.

    I'm a little embarrassed to have not written down my questions. And I'm surprised that little or no recording or replay of annual meetings is so prevalent after the past year's leaps in video conferencing. Like the open records of the Wisconsin Court, the annual meetings are public, but not so much as you'd notice.

    If anyone can find or create a recording or transcript to share, it would help investors judge what's going on in Richmond and decide whether to buy, sell or hold this long-troubled stock.
  • t
    tom
    Buying !! Also doubled up at this price! Long and thrilled!
    Bullish