W - 2 Reasons to Sell Wayfair Stock and 1 Reason to Buy
2023-07-28 10:00:00 ET
Investors are becoming much more optimistic about Wayfair 's (NYSE: W) business, even though the e-commerce retailer is struggling right now. Shares have more than doubled so far in 2023, in fact, compared with a 34% increase in the Nasdaq Composite .
That wider tech rally surely played a key role in Wayfair's bounce, and the stock is still more than 60% below the all-time highs it set during the pandemic. But Wall Street also has some specific reasons to believe the home-furnishings retailer will bounce back following the current growth hangover.
Let's look at a few reasons investors might want to avoid this stock for now, along with one big reason to consider owning it.
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2 Reasons to Sell Wayfair Stock, and 1 Reason to Buy