Common shares in the Miami-based builder of single-family and multifamily homes pretty much started a freefall from the 52-week high of $49.88 recorded on July 19. The issue had traded as low as $25.37 over the same time period.
Since the recent low of $38.51, however, the issue regained momentum, closing up $2.20 on Friday at $42.60. That is a gain of $4.09 over seven days of trading.
It appears the stock is reacting to fluctuating market concerns about the economic health of the U.S. homebuilding industry. Lennar is widely considered the industry's second largest homebuilder behind Centex Homes.
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