NEW YORK (TheStreet) -- Although the S&P 500 is well off session lows, it certainly had an ugly open on Friday. However, that didn't stop shares of newly publicly traded New Home Company (NWHM) from moving higher Friday.
TheStreet's Debra Borchardt spoke to the company's CEO Larry Webb about the stock's price action. The stock was initially priced at $11 per share but quickly jumped to $12 after opening for trade.
Webb is optimistic about his company's forward prospects. He added that the company has a "great competitive advantage," and that's being reflected in today's stock price.
Webb is proud of his company's "socially conscious" business model, with plenty of contracts in its pipeline and the strong job creation that comes from an expanding business.
He said the company has 5,700 lots that they plan to build on as quickly as possible over the next 18 months. "Growth, growth, growth," Webb reiterated.
-- Written by Bret Kenwell in Petoskey, Mich.
Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.