W - 1 Stock Down 82% That Could Soar in 2024
2024-01-13 06:30:00 ET
Will 2024 be the year for the turnaround you're hoping for? Some companies, like Carnival , made a huge comeback already last year. However, others are still feeling the impacts of inflation and waiting for strategic changes to show up in their sales and earnings.
Online furniture giant Wayfair (NYSE: W) is in that boat. Its business soared early in the pandemic, but it lost its momentum and has been reporting heavy declines over the past two years. In that process, shares are down 82% from their all-time high in 2021.
That's despite an 88% gain for the stock in 2023. Management has taken important steps to get back on track and become profitable again, and if it comes through with its performance in 2024, the stock could go even higher.
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1 Stock Down 82% That Could Soar in 2024