Housing Stock #7 – Simpson Manufacturing (SSD)
Small-cap companies like Simpson Manufacturing (SSD) have been
hit hard by the slowdown in housing and are in for continued trouble in the months ahead.
The company makes wood screws, metal fasteners and other housing-related products and has seen profits drop by about 90% over the last three quarters.
And once the tax credit dries up, it could get even worse. Just as we saw auto sales screech to a halt after the “cash for clunkers” program
was over, you can expect home sales to take a similar dive. Simpson Manufacturing is a sell.
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