2019-11-19 10:57:20 | Citron accuses Wayfair of lying, says shares headed to $45Andrew 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 | |
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