Robert Chapman long on Lumber Liquidators# Stock
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Robert Chapman, activist investor and CEO of Chapman Capital, has taken a
long position in Lumber Liquidators amid controversy over the safety of the
company's products.
Chapman told CNBC his position in Lumber Liquidators is roughly 15 percent
of his fund and is partly through call options.
Lumber Liquidators' stock spiked nearly 10 percent in early trading
Wednesday.
The position comes as a surprise, as Lumber Liquidators has been under fire
since CBS' "60 Minutes" program reported the company sold flooring with
higher levels of formaldehyde than permitted under California's health and
safety standards.
Last week, Whitney Tilson, the founder and managing partner of Kase Capital
Management who originally brought the story to the CBS program, said he was
increasing his short position against the company.
Lumber Liquidators has defended the safety of its products and dismissed the
"60 Minutes" report as untrue.
Read More › Lumber Liquidators slides, major short extended
Click here to see how the stock is trading now.
Tune in: Chapman will be on CNBC's Fast Money Halftime Report at noon ET to
speak on his position.
http://www.cnbc.com/id/102495993#.
long position in Lumber Liquidators amid controversy over the safety of the
company's products.
Chapman told CNBC his position in Lumber Liquidators is roughly 15 percent
of his fund and is partly through call options.
Lumber Liquidators' stock spiked nearly 10 percent in early trading
Wednesday.
The position comes as a surprise, as Lumber Liquidators has been under fire
since CBS' "60 Minutes" program reported the company sold flooring with
higher levels of formaldehyde than permitted under California's health and
safety standards.
Last week, Whitney Tilson, the founder and managing partner of Kase Capital
Management who originally brought the story to the CBS program, said he was
increasing his short position against the company.
Lumber Liquidators has defended the safety of its products and dismissed the
"60 Minutes" report as untrue.
Read More › Lumber Liquidators slides, major short extended
Click here to see how the stock is trading now.
Tune in: Chapman will be on CNBC's Fast Money Halftime Report at noon ET to
speak on his position.
http://www.cnbc.com/id/102495993#.