Lumber Liquidators is surging (LL)

Shares of Lumber Liquidators climbed more than9% on Friday afternoon.In a regulatory filing on Friday, hedge fund Tiger Management disclosed that it took a new position in the hardwood flooring retailerof 238,000 shares.The stock is down 79% for the year, following an episode of "60 Minutes" in March that showed that the company's laminate flooring sourced in China contained excessive levels of formaldehyde. The companyis the subject of a federal investigation.CBS isrerunningthe episode on Sunday.Earlier this month, the company reported a second-quarter loss. It noted that its net sales are still being slammed by "unfavorable allegations".Here's a chart showing the pop in shares on Friday:SEE ALSO:Lumber Liquidators crashes after earningsJoin the conversation about this storyNOW WATCH: Something strange is happening with US rainfall
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