After a Gain of More Than 1,000%, Is It Time to Sell Wayfair?
Few stocks have benefited from the COVID-19 pandemic as much as Wayfair (NYSE: W).
The online home furnishings company sits at the intersection of two of the biggest pandemic-related trends: E-commerce and demand for home goods, both of which were driven by the stay-at-home measures during the crisis as Americans shopped online instead of in stores, and stocked up on home furnishings to adjust to life working, learning, and spending most of their time at home.
What's surprising about Wayfair, which has jumped more than 1,000% since its nadir a year ago, is that unlike other pandemic winners, shares are still flirting with all-time highs even as vaccines are quickly rolling out in the U.S., interest rates are rising in preparation for the reopening, and investors have begun rotating into recovery stocks in sectors like energy, financials, travel, and entertainment.
Source Fool.com
