Why Wayfair Stock Jumped Today
Shares of Wayfair (NYSE: W) were climbing today, apparently in sympathy with RH (NYSE: RH) after that company smashed earnings estimates and reported strong demand in its second-quarter earnings report. There was no news out on Wayfair, but the results from RH, a purveyor of high-end home furnishings, was enough to lift other home goods retailers, including Williams-Sonoma and Overstock.com.
Wayfair shares were up 8.8% as of 12:31 p.m. EDT on Thursday, while RH had gained 23.5%.
Image source: Wayfair.
Source Fool.com
