As you probably expected, Beazer's stock was hit in after-hours trading -- currently trading at $17.70 per share vs. opening at $19.65 Monday. Stocks always slide when the announcement of an investigation by the SEC hits the wires because investors become nervous about the company's management's integrity.
Although the very successful hedge fund Moore Capital is involved in the stock, I think investors would be wise to avoid this stock until the clouds clear. While many value investors make tremendous returns betting on stocks under investigation or very out of favor, I think that game is way too risky for most retail investors.
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