The double-digit-dollar decline in the value of Lumber Liquidators' shares has wiped more than 20% off the value of the company in the wake of Sunday’s 60 Minutes documentary alleging the U.S. retailer of hardwood flooring had installed Chinese-made laminate flooring containing formaldehyde at unacceptably high levels.
Yesterday marked the third session following Friday’s employment report big sell-off. The decline in the Eurodollar March 2016 contract was a 2.7 std dev move, the likes of which had not been seen since January of 2011. There was no meaningful recovery over the three sessions following that decline.
The March 2015 contract trades $3.00 higher at $52.60. Four sessions ago on Thursday, Jan. 29, the contract traded to a March 2009 low of $43.58, finishing that session marginally higher from the prior close.