Builders FirstSource stock jumps 7.34% and outperforms competitors
Updated
Updated · MarketWatch · May 6
Builders FirstSource stock jumps 7.34% and outperforms competitors
11 articles · Updated · MarketWatch · May 6
The shares closed at $80.03 on Wednesday, extending gains for a second day as trading volume rose to 3.6 million from a 50-day average of 2.5 million.
The broader market also rallied, with the S&P 500 up 1.46% to 7,365.12 and the Dow Jones Industrial Average gaining 1.24% to 49,910.59.
Builders FirstSource still ended 47.01% below its 52-week high of $151.03, though it beat peers including Trex, Carlisle and TopBuild in Wednesday's session.
With BLDR posting a net loss and cutting guidance, what truly fueled its surprising one-day, 7% stock rally?
As megaprojects boom but housing slows, is the construction market facing a fundamental shift away from residential building?