Should You Buy Wayfair Stock at $300?
Wayfair (NYSE: W) was a popular destination for consumers stocking up on home goods during the shelter-in-place period. The online retailer posted revenue growth of 83.7% for the second quarter, significantly higher than the first quarter's 19.8% growth.
Wayfair experienced consistent demand across all product categories, which shows the spurt in sales wasn't driven by specific needs related to working from home.
During the company's second-quarter conference call, CEO Niraj Shah said, "Accelerated e-commerce adoption was also an important tailwind in Q2 and should bring longer lasting benefits to our business." One of those benefits was immediate as higher sales volume helped Wayfair generate $1 billion of free cash flow in the second quarter alone, breaking a streak of losses in previous quarters.
Source Fool.com
