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Shares in Lennar Stock on Roller Coaster

MIAMI-The price per common share in the homebuilding giant closes down $1.17 Tuesday, then rises $1.58 Wednesday as the company files an amended shelf-registration statement to issue periodically up to $700 million in new stock.

By David R. Corder | Updated on July 18, 2001

MIAMI-The meteoric rise in the value of common stock in Lennar Corp. came to an abrupt halt Tuesday as the homebuilding giant filed an amended shelf registration statement to issue up to $700 million in new common shares.

Just as fast as the share price dropped, the issue rebounded Wednesday, closing up $1.58 per share at $48.41 on volume of 1.1 million.

Shares in the Miami-based company closed down $1.17 on Tuesday to $46.83 on volume of 1.1 million. The issue has traded as low as $22.19 a share over the same time period.

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