Why Wayfair Stock Jumped 61% in June
Shares of Wayfair (NYSE: W) were surging last month after the online home furnishings retailer posted a favorable sales update and benefited from positive analyst notes and the bankruptcy of Bed Bath Beyond, one of its biggest pure-play competitors.
The stock has been struggling since the pandemic-era boom, but those events showed that the company could finally be turning the corner after several months of sales declines.
As a result, the stock was up 61% in June, according to data from S&P Global Market Intelligence.
Source Fool.com
Wayfair Inc. Stock
€100.50
-0.200%
The stock is an absolute favorite of our community with 42 Buy predictions and no Sell predictions.
With a target price of 106 € there is a slightly positive potential of 5.47% for Wayfair Inc. compared to the current price of 100.5 €.
