W - Dear Wayfair Stock Fans Mark Your Calendars for July 26
2024-07-18 10:02:52 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
This week, there’s been a great deal of focus on Amazon (NASDAQ: AMZN ) as it held its Prime Day event from July 16-17. Now, online furniture retailer Wayfair (NASDAQ: W ) is getting in on the summer shopping extravaganza. Specifically, the firm will be holding a four-day Black Friday-style shopping event from July 26-29. The event could increase investors’ focus on Wayfair stock in the next few weeks.
Wayfair’s Black Friday in July Event
Starting July 26 at midnight, consumers who visit Wayfair.com will see discounts on everything they need for their homes, the company reported. New deals, including “limited quantity doorbusters at jaw-dropping prices,” will be posted every 24 hours on the website, Wayfair noted.
“This sale provides our customers with tremendous value and selection to outfit their homes and businesses with just what they need to enjoy the rest of summer or prepare for back to school,” Wayfair Chief Commercial Officer Jon Blotner said in a statement.
Two Reasons to Be Upbeat on W stock
In the first quarter of this year, multi-billionaire Larry Robbins bought Wayfair’s shares for the first time, acquiring nearly 220,000 of the units.
And in May, Morgan Stanley identified Wayfair stock as one of six names that had made positive changes to their strategies. Specifically, the investment bank believes that the retailer is using its large size and huge amount of data to boost its profit margins. Wayfair is increasing the margins that it obtains from its ads, third-party vendors, and data, Morgan Stanley explained.
Moreover, Morgan Stanley believes that the retailer is benefiting from market share gains and “cost discipline,” making the risk/reward ratio of Wayfair stock positive.
The Price Action of Wayfair Stock
Heading into today, the shares had risen 3.3% , but they had dropped 1.3% in the preceding month and 12.4% so far in 2024.
On the date of publication, Larry Ramer held a long position in AMZN. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been SMCI, INTC, and MGM. You can reach him on Stocktwits at @larryramer.
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