Retail

Stay away from Wayfair’s ‘toxic’ stock

0


The stock of online furniture retailer Wayfair has grown “toxic,” and you should keep it out of your portfolio, CNBC’s Jim Cramer advised Monday.

“This has become a momentum stock without any momentum, which is why I think you need to stay the heck away from it,” the “Mad Money” host said. “As long as growth is out of style on the Wall Street fashion show, Wayfair’s stock, it’s going to be toxic.”

Wayfair has lost around 50% of its value since its highs in March, Cramer said, including a nearly 20% fall last Thursday after a disappointing earnings report.

Wayfair’s recent decline isn’t necessarily due to radically different fundamentals for the company, Cramer said. Rather, things have…



Source cnbc.com

McDonald’s, Verizon, Harley-Davidson & more

Previous article

OPEC crude production in focus

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Retail