Why Wayfair Stock Rose 12% in August
Wayfair (NYSE: W) shares outpaced a booming market in August by rising 12% compared to the S&P 500's 7% increase, according to data provided by S&P Global Market Intelligence.
That boost added to a huge rally for the e-commerce specialist, which is up over 200% so far in 2020.
Investors had plenty of good news to celebrate last month as Wayfair blew past expectations to announce an 84% second-quarter sales increase. Surging interest in home upgrades, and e-commerce spending, seemed to create the ideal selling environment for the company. Wayfair also achieved profitability with dramatic flair, with adjusted earnings landing at 10% of sales compared to a 3% loss a year earlier.
Source Fool.com
