It's said that not all that glitters is gold. Similarly, a low share price doesn't mean a stock is cheap. Shares of home goods e-commerce site (NYSE: W) have fallen 90% from their high.

Many growth stocks have sharply fallen over the past two years, so that might not initially alarm investors. However, a closer look shows that Wayfair could be trending lower for good reasons. Here is why Wayfair could have some problems bubbling under the surface.

Wayfair is an e-commerce company focusing exclusively on the home goods market. It sells furniture, decor, appliances, lighting fixtures, and more. The company's revenue surpassed $12 billion in 2022, though it peaked in 2020 at $14 billion. Management estimates its addressable market at $800 billion, which could grow to $1 trillion by 2030.

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Source Fool.com