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.

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Source Fool.com