Wayfair: Shaking Off Citron Call

Wayfair (W) is down about $70 from the all-time highs back in March to $105. The recent repeated negative calls by Citron Research on the online furniture stock actually could signal the bottom. The noted short seller isn't highly bearish on the stock where others he has claimed the stocks were virtually worthless. Citron just picks the stock to dip further to $70. 
Wayfair still appears in a down trend, but investors should start looking for an entry point with the previous lows around $80. 
More commentary - WhoTrades

Disclosure: No position. Please review the disclaimer page for more details. 

Comments

Unknown said…
Love your work, Mark.

I wonder about the ability to be precise on a share price target on an unprofitable business. Seems more psychology than math.

I also wonder what's caused BBBY more pain in recent years - unprofitable W or somewhat profitable AMZN? Probably a lot of both.

Seems a lot of support for W @ $100, but my balls aren't nearly big enough to step into the breach.

Keep up the great work as it's very much appreciated . . .

Popular posts from this blog

Camping World: Momentum Stinks

Aurora Cannabis: Deal Or No Deal