Why Wayfair Shares Tanked Today
Shares of e-commerce outfit (NYSE: W) ended Thursday's trading session down 9.9%, driven lower by several insiders' decision to dump shares as soon as they became available to sell.
Most senior managers of publicly traded companies receive company stock and/or stock options -- the right to buy shares at a pre-determined price in the future -- as part of their net compensation. It's not unusual for these executives to regularly sell some of these shares shortly after they're allowed to do so.
It is a bit of a red flag, however, to see several top executives shed a huge number of shares all at the same time and as soon as these shares became available to sell.
Source Fool.com
Wayfair Inc. Stock
€77.38
5.110%
The stock is an absolute favorite of our community with 42 Buy predictions and no Sell predictions.
With a target price of 89 € there is a slightly positive potential of 15.02% for Wayfair Inc. compared to the current price of 77.38 €.
