A Bankrupt Homebuilder?

I have definitely been speculating that it will happen and this morning Beazer Homes was the victim of the gossip.

ReutersBeazer says bankruptcy rumors are unfoundedWednesday August 1, 12:34 pm ET

NEW YORK (Reuters) – Beazer Homes USA Inc. (NYSE:BZH – News) said on Wednesday that rumors it would soon be filing for bankruptcy protection were unfounded.“We have become aware of rumors circulating in the market about Beazer Homes’ liquidity and a prospective bankruptcy filing. We do not know where these scurrilous and unfounded rumors started,” the company said in a statement.

“For an accurate representation of the company’s financial position, including the company’s liquidity and near-term prospects, we encourage investors to refer to the company’s recently released third-quarter earnings release and the script of our conference call with analysts and investors,” the company said.

I was nuts to go bottom fishing and am getting the aggravation I deserve. Lesson learned. That said, a bottom for most of these is at hand based on the panic.