Why Wayfair Stock Jumped 28% This Week
Wayfair (NYSE: W) investors beat a rising market this week as shares jumped 28% through Thursday trading compared to a 2% spike in the S&P 500, according to data provided by S&P Global Market Intelligence. Yet that rally only removed part of the online furniture retailer's recent losses. Shares are still down 70% so far in 2022.
The rally likely reflected bargain hunting from investors following those steep stock price losses. It also came as attention turned toward Wayfair's upcoming earnings report.
The main factor driving Wayfair stock higher this week was a rebound in the wider market following steep declines through most of 2022. But there were also a few specific reasons to be a bit more bullish about its business. Investors see a potential ending of certain tariffs on Chinese products, for one, which would benefit Wayfair by reducing prices and easing supply chain challenges.
Source Fool.com
