Where Will Wayfair Stock Be in 1 Year?
Wayfair's (NYSE: W) stock closed at its all-time high of $345.47 on March 22, 2021. At the time, the online furniture and home goods retailer seemed like a solid play on soaring home sales and stimulus-induced spending.
But as of this writing, Wayfair trades at about $47 a share. Its stock plummeted as sales of new homes stalled out, its supply chains were disrupted, and inflation boosted its shipping costs. Rising interest rates also drove investors toward less cyclical stocks.
At its peak, Wayfair was valued at nearly $36 billion, or 2.6 times the sales it generated in 2021. Today, it's worth just $5 billion, a mere 0.4 times the sales it's expected to generate in 2023. Should investors consider Wayfair to be a deep value play that has a shot at recovering over the next 12 months?
Source Fool.com
