Louisiana-Pacific (LPX) NewsBite - Louisiana-Pacific Drops ion Reaction to Weak Homebuilder Sector

Posted on Monday, November 26, 2007 11:55 AM

Louisiana-Pacific Corp. (LPX) opened at 14.48. So far today, the stock has hit a low of 13.85 and a high of 14.49. LPX is now trading at 13.98, down 0.48 (-3.31%). The stock hit its 52 week high of 23.51 in January and set its 52 week low of 13.85 today. The stock has been selling off steadily since the start of the year. The stock has been weak today in reaction to several downgrades that burned the homebuilders by Citigroup. LPX's main business involves providing building products for new home construction, repair and remodeling, and manufactured housing. Technical indicators for the stock are bearish and steady while S&P gives LPX a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged trade on this stock, consider a May bear-call credit spread above the $17.50 level. LPX stock could rise up to 25.2% before expiration and this position would still be profitable. [RHF- Seven Summits Strategic Investments NewsBite]