So Wayfair shot up 13% on Friday after better than expected earnings on Thursday which it was also up on Thursday.
BUT. the better than expected earnings was still NEGATIVE for a furniture company going into what is supposed to be a recession and a cooling housing market. AND they company has a very high debt to total capital ratio (798%) with rising interest rates.
So why is it shooting up? Just because in the past it had a higher pricing structure? Do people really hope it's going back to super high stock prices? I'd be more worried it was going out of business. It has projected negative earnings for the foreseeable future and high debt.
Someone please enlighten me as to why this is attracting so much positive attention.
Or do you think it is just everything was up Friday?
Leave a Reply