Why Wayfair Inc. (W) Went Up On Tuesday
Wayfair Inc. snapped a five-day losing streak on Tuesday, rallying 13.37 percent to end at $41.04 apiece as investors resorted to bargain-hunting to take advantage of the recent price drop.
In recent news, Wayfair Inc. (NYSE:W) announced plans to expand in Yonkers, New York, through the development of a large-format retail store at Ridge Hill. It is targeted to open in early 2027.
The development followed the announcement of another retail store in Atlanta, which is slated to open in 2026, as well as the recent opening of its first large-format retail store in Wilmette, Illinois.
Wayfair Inc.'s (NYSE:W) brick-and-mortar expansion plans reflect the company's business optimism despite the ongoing trade tensions between the US and China, where it sources a huge chunk of its supplies.
An elegant home décor with a stunning furniture piece, showcasing the company's premium online selections.
In the first quarter of the year, Wayfair Inc. (NYSE:W) was able to narrow its net loss by 54 percent to $113 million from $248 million year-on-year. Net revenues, on the other hand, were flat at $2.73 billion.
Overall, W ranks 7th on our list of best-performing stocks. While we acknowledge the potential of W, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than W and that has 10,000x upside potential, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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