Lennar Lennar reported after the close.It's the same story as all the others home builders.
2021 will be a very very strong year.Some investors must be asking themself, why are
the lumber stocks not moving even faster on the upside?
The answer is quite simple, we need to digest the big run up that we have seen so far in 2020.
Just look at the charts of all lumber stocks.Take WFT for example.It was $25 in march$45 in june and $65 in oct.
How many trading session will it take to FLUSH the sellers is anybody's guess but once done,
we will resume higher.
It's only a matter of time.2021 will be a very profitable year for lumber shareholders.
I fully agree with Dos, we will see $140+ next year.
Lennar's backlog is up 21% compared to last year.
Here his what the chairman of Lennar had to say in conclusion.
Mr. Miller concluded, "The housing market has proven to be very strong and we expect it to continue to be a significant driver in the recovery of the overall economy over the next several years. We thank all of our associates and trade partners for their continued focus and dedication to ensure that we deliver high quality and safe homes during this pandemic. With an excellent balance sheet, strong cash flow generation and continued execution of our core operating strategies, we are well positioned for an even stronger 2021 with projected deliveries of 62,000 to 64,000 homes