Some Stocks Hammered, Some Nailed
This from CNBC’s stock market reporter Bob Pisani.
Home builders this week:
- Standard Pacific down 23% [SPF 3.25
-0.05 (-1.52%)
]
- Hovnanian down 16% [HOV 4.61
- Masco down 10% [MAS 12.76
- Lennar down 10% [LEN 14.06
- Ryland down 10% [RYL 21.11
On the surface, the decline may not seem logical. The housing market seems to be stabilizing, with sales improving and inventory levels declining.
If shareholders can protect any gains they achieved during the summer rallies of these stocks, it’ll be a surprise. The real rally in home building stocks that will pre-date housing’s volume and price recovery, is still ahead.
September 2, 2009 | Filed Under Home Builders
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