Here's Why Wayfair Stock Is Soaring Today
The stock market continued its post-election rally on Thursday, with all of the major averages up by more than 2% at 3 p.m. EST. And e-commerce home furnishings retailer Wayfair (NYSE: W) was a major standout, with shares up by 11%.
There isn't any company-specific news fueling Thursday's move, but rather a combination of a few market forces. For one, there seems to be quite a bit of e-commerce optimism as we head into the holiday season, as many companies (including Wayfair) have expressed optimism that more Americans will do their shopping online this year. Other e-commerce stocks like Etsy (NASDAQ: ETSY), eBay (NASDAQ: EBAY), and Amazon (NASDAQ: AMZN) were also outperforming the market on Thursday.
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Source Fool.com
