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Wayfair, Inc crashes pre-market

Wayfair, (NYSE:W)the largest online market for home products, announced its Q3 revenue report. It crashed ~20% pre-market today. It generated net revenue of $1.2Billion, up 39.1% yoy. Though it had a gross profit of $280.3 Million, it generated a GAAP net loss of $76.4 Million, and a net loss per share was $0.65, missed wall street expectations by $0.19.

Wayfair’s share price has seen more than 100% growth since January 2017, and has substantially outperformed its peers. Stockal’s Confidence Meter has been above 60, indicating that analysts see bullish potential for the stock. Since August, Wolfe Research, Stifel, Gordon Haskett and MKM Partners have all held a bullish opinion of the stock.

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