Wayfair Stock: Buy the Dip?
Wayfair (NYSE: W) stock has dropped over 20% from its late August high. The slump wasn't fueled by any official news from the e-commerce specialist. Instead, investors pulled shares lower as part of the wider tech sell-off. There are also rising concerns that Wayfair's short-term growth might not live up to expectations.
But taking advantage of the decline might set investors up for bigger gains down the road -- if you believe in the bullish outlook for this business. Let's take a closer look at why you might want to capitalize on Wayfair's latest pullback.
Wayfair has had about the best first half to fiscal 2020 that shareholders could have hoped for. A pandemic-related shift toward e-commerce spending, especially in home furnishings, has helped it add $2.3 billion, or 53%, to its sales in six months. That result includes the dramatic 84% surge in revenue in the fiscal second quarter.
Source Fool.com
