Why Wayfair Stock Is Down 83% This Year
It wasn't long ago that Wayfair (NYSE: W) stock was a favorite on Wall Street. The e-commerce giant, which specializes in home decor and furnishings, posted soaring growth through the early phases of the pandemic. Those gains combined with a cost-cutting effort put the company on a seemingly unstoppable path toward ever-expanding earnings.
But times change. Wayfair stock is down about 83% since the start of the year in fact. Sure, a downturn in the wider market is a major factor in that decline. But the company also gave investors a few big reasons to worry about whether it can ever achieve the ambitious goals that management has for its global sales footprint.
Let's take a closer look at why Wall Street is running from this stock in 2022.
Source Fool.com
