Lumber Liquidators stock plunges as CDC raises flooring cancer risk

Shares of Toano, Va.-based Lumber Liquidators (NYSE: LL) plummeted this week following the release of a Centers for Disease Control report that formaldehyde in laminate flooring carried an increased cancer risk.

Although the CDC does not name Lumber Liquidators, the news triggered reports the study is related to the same products made in China and sold by the company, and which became the subject of a “60 Minutes” report last year.

The per share stock price of LL dropped nearly 22.4 percent from its Friday closing price of $14.21 per share to $11.03 shortly after the market opened Monday.

The report states exposure to the flooring could result in between six and 30 cancer cases per 100,000 people, according to the report issued Feb. 18. That estimate is up from between two and nine cases per 100,000 as previously estimated.

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