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W

Wayfair

$84.93

-1.5 (-1.74%)

, AMZN

Amazon.com

$1,751.03

-1.67 (-0.10%)

10:57
11/19/19
11/19
10:57
11/19/19
10:57

Citron accuses Wayfair of lying, says shares headed to $45

Andrew Left's Citron Research issued another short report on Wayfair (W), claiming management has been lying and that the shares are headed to $45 in the near term. The online retailer in morning trading is down 3%, or $2.39, to $84.04. "After eight years operating as a public company, Wayfair has never been further from profitability as its most recent quarterly earnings release reflects the Company's largest quarterly loss while revenue growth is decelerating," Citron claims in a new report posted on its website. Further, the company issued a "complete lie" when blaming its quarterly results on "some short-term tariff related volatility," contends Citron. The firm known for its short selling also says Amazon.com (AMZN) in the past five months has launched a series on furniture commercials that highlight free delivery. If Wayfair were to have the same enterprise value as RH (RH), "the stock would immediately be trading at $46.... and this ain't no RH," writes Citron.Reference Link

W

Wayfair

$84.93

-1.5 (-1.74%)

AMZN

Amazon.com

$1,751.03

-1.67 (-0.10%)

RH

RH

$181.50

-6.08 (-3.24%)

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