Lumber Liquidators (LL) Gains as Whitney Tilson Said He's Covered His Short

November 29, 2016 3:45 PM EST

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Lumber Liquidators (NYSE: LL) gains into the close as Whitney Tilson said he's not longer short the stock and it may be an acquisition target. Shares up 2.8%.

  • Amidst a formaldehyde scandal exposed by 60 Minutes, the stock has collapsed o Down 85% since my first pitch; 70% since my second
  • The company is still struggling and losing money, but has settled most regulatory investigations and lawsuits so I think it’s likely to survive – and might be a good acquisition candidate – so I’m no longer short the stock

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