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Why Wayfair Stock Is Up Today

TheMotleyFool

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Why Wayfair Stock Is Up TodayPhoto, wide shot, wide-angle lens, Retail store, neutral atmosphere, photo by Joe Cornish: https://img.theapi.app/temp/5574eb69-dc38-42f3-aadd-6163ac8bd4a8.png

Shares of online home-goods retailer Wayfair (NYSE: W) were trading higher on Wednesday afternoon, as the company geared up for a major Fourth of July sale. As of 3 p.m. EDT, Wayfair's shares were up about 12% from Tuesday's closing price.

Despite a steep decline in March amid the outbreak of COVID-19 in the United States, Wayfair's stock has gained more than 140% since the beginning of 2020.