By Lucian Miers | Wednesday 28 August 2019
Disclosure: The author has a short position in one or more of the shares mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Early last December, I recommended selling online home furnishing retailer Wayfair (NYSE - W) at $105. Helped by that month’s broad market sell off it promptly fell to $80. However I managed to close the position for a small loss as it rampaged back through my sale price, hitting over $160 in February. My gripe with Wayfair was and still is that ever since its inception in 2002 it has been incapable of making money and the more it grows its revenues the bigger are its losses (Q2 YOY revenue up 41% to $2.3 billion, losses up 81% to $181 million)...
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