The Options Master

We believe Way Fair stock was up for couple of reason, first the company announced that their 2020 Way Day is schedule for Wednesday 9/23/2020. Way Day is like Prime Day for Amazon (AMZN) which the company offer discounts on most of their products to attract current and new customers.

The other reason W stock was up on Friday is most stay-at-home stocks were up.

We believe W stock ran way too high in August in anticipation of great Q2 results and analysts upgrading the shares and raising price targets. W announced their Q2 results on August 5th and they did indeed blow past the highest estimates and the stock soared to $349 within few days.

We believe that in the next few days leading to Way Day, and maybe the rest of the coming week, W stock will go higher. However, we believe the share will under perform for the remaining of 2020.

Q2 benefited from the US government Stimulus payment of $1,200 to every American, and the $600/ weekly Unemployment Benefits coupled with Stay-at-Home mandates due to the Covid-19, and many people spending more money on their homes. These payment stopped in August and September, besides furniture is not something people buy frequently like food or clothes.

Some stocks ran up so high.....

Stocks that ran up so much, overbought stocks

Sunday

Article content. Sample article content. Sample article content. Sample article content. Sample article content. Sample article content. Sample article content.