Builders FirstSource slips to year low on weak housing market
Builders FirstSource, Inc. (Nasdaq:BLDR) skidded to a 52-week low on Monday as the building material supplier felt the impact of the weak housing market. Both housing starts and the sales of new and existing homes have steadily dropped as the fallout from the subprime mortgage industry continues. The Dallas-based Builders FirstSource shares fell to $5.22, down about 10% from Friday’s close. The company’s shares are down more than 67% from a year ago and have ranged from $16.65 to Monday’s low of $5.22.
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