HBP getting slammed by sell the news daytraders. All the way back to the $1.50's. I'm buying some. Funny thing is I thought it was a pretty good quarter. Excluding the $1.5M restructuring charge, looks like Q2 earnings would have been .12/share! Seasonally stronger quarter but so is upcoming Q3.
Sound like Q2 started slow...then started improving. Expenses should be going down with the closure of those 2 branches. The housing market is booming. All seems to bode well for the HBP Q3.
From the Q2 earnings PR:
"While some of our largest markets were significantly impacted by the pandemic early in the second quarter, demand has improved as construction activity has rebounded."
I think the stock offers attractive risk/reward in the mid $1's. Got a crazy run to $3 a few days ago. On no news. Seems like another pop to $2+ in the coming weeks is likely.
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