Stock Traders Daily Drops Lumber Liquidators Holdings Inc (NYSE:LL)
Stock Traders Daily has pulled its support and recommendation for Lumber Liquidators Holdings Inc (NYSE:LL) as a result of the inaction of management in the wake of an onslaught of stock price manipulation from short sellers.
We have reached out to LL management, we have pointed out situations where public articles contained material flaws, we have given management direct access to editors who, if asked by the company, would remove flawed articles, but LL management has not taken the steps to protect shareholders. Those flawed articles remain, but there is more.
In addition, we have cited numerous occasions since the exodus of the CEO, pointing these out directly to Tom Sullivan, in which LL was the target of repetitive bombardment by new articles citing news that was not new, but those articles were causing the stock to decline. Management would have been able to protect shareholders each time by simply issuing statements that they have already issued, but they did not do anything. The inaction causes us to believe that management is not respecting shareholders at this time.
Unfortunately, instead of taking an active role in protecting shareholders LL has not been proactive and that has caused us to drop our support for the stock.
At least for now.