Why Wayfair Stock Lost 10% in July
Wayfair (NYSE: W) investors trailed the market last month as the stock shed 10% to a 1% uptick in the S&P 500, according to S&P Global Market Intelligence. The decline still left investors with positive returns, with the e-commerce giant up 35% so far in 2019.
Image source: Getty Images.
July's decline came as investors braced for potentially bad news from the home furnishings seller in its second-quarter report scheduled for the first day of August. That report included hopeful signs for the business, including booming sales growth, rising engagement levels, and modest advertising spending. On the other hand, Wayfair's costs spiked, driving net losses higher.
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