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New data: No recovery in home-building stocks |
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| Feb 03, 2009 05:45 PM UTC |
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Tracked Blogger
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Via BloggingStocks:
Filed under: Bad news, Economic data, Stocks to Sell, Housing
That makes stocks like Hovnanian (NYSE: HOV) and Beazer (NYSE: BZH) sells, even at current depressed levels. HOV shares are down to $1.64 from a 52-week high of $13.50. Beazer is off from a high of $12.40 to $0.98. The company could even face delisting over the next year if it cannot get its share price up. There is a temptation to think that home-building stocks are so inexpensive that, if the companies can drop inventory prices enough, they can start to improve sales, even if the margins on each home sold are poor. But it is not that simple. Continue reading New data: No recovery in home-building stocks New data: No recovery in home-building stocks originally appeared on BloggingStocks on Tue, 03 Feb 2009 12:45:00 EST. Please see our terms for use of feeds. Permalink | Email this | Comments
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Homeowners lost $3.3 trillion in the value of their houses last year. A report from Zillow.com, Be the first to comment on this story and earn 2 points.
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