Thursday, November 17, 2005

Unfair to Florida Rock

Wow. Florida Rock's stock took a plunge last week. It's climbing back up now, currently in the high 40s. But what precipitated the company's 5.3 percent decline last Tuesday and 5.6 percent fall last Wednesday? The company said "it was not aware of any event in its business to explain a steep drop in its stock price over the past two trading days." In retrospect, other aggregates companies took a bit of a hit as well, but there is no good reason investors should have bailed on Florida Rock. With a market area that is expected grow by leaps and bounds over the next five years -- both from building and RE-building -- Florida Rock is well positioned to make great strides. My recommendation: Buy. Hold. Your comment?