Why Wayfair Stock Finished Lower Today
Shares of Wayfair (NYSE: W) slipped today even though there was no news out on the e-commerce home furnishings specialist. Instead, the driving force behind the sell-off was a broader rotation in the market as investors sold out of pandemic winners like e-commerce stocks, and bought recovery plays like airlines.
Wayfair stock closed the day down 8.7%, while the tech-heavy Nasdaq gave up 2.5% and the Dow Jones Industrial Average finished the day slightly higher, showing the rotation from tech stocks to recovery stocks.
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Source Fool.com
