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Here is why Lennar Corporation (LEN) stock went down in the after-hours on Wednesday

Lennar Corporation (LEN) shares declined 7.31% in after-hours on Wednesday, December 15, 2021, and closed the trading at $104.82. However, in the regular trading session, LEN’s stock gained 1.75%. LEN shares have risen 53.09% over the last 12 months, and they have moved down 1.95% in the past week. Over the past three months, the stock has gained 12.81%, while over the past six months, it has jumped 19.48%.

Let’s see what are the latest news about the company?

LEN latest news

On December 15, 2021, Lennar Corporation (LEN) announced its financial results for the fourth quarter and fiscal year ended November 30, 2021.

Q4 2021 financial highlights

FY 2021 financial highlights

Q1 2022 financial outlook

For Q1 2022, the company is expecting,

FY 2022 financial outlook

For FY 2022, the company is expecting,

LEN and Veev collaboration

On November 18, 2021, Lennar (LEN) and Veev, a pioneer in vertically integrated end-to-end panelized building technology that enhances every aspect of the living experience, committed to a new residential community as a follow-on to Lennar’s investment in Veev’s $200-million financing rounds.

The largest community is expected to break ground with exclusively featuring homes built with Veev’s proprietary and productized approach to design and construction in coming months. Veev’s technology-driven solution can deliver homes up to four times faster than the industry standard.

LEN new Camber apartments

On November 2, 2021, LMC, a wholly-owned subsidiary of Lennar Corporation (LEN) announced the opening of Camber, a brand new apartment community in the burgeoning Denver Gateway Center, ideally situated between Downtown Denver and Denver International Airport (DIA).

Conclusion

The recent financial results missed the estimates which resulted in its decline in the stock market. We can expect it to pick up the momentum in the coming trading sessions.

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