Market Overview

Wayfair Whacked Despite Q2 Beat

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Wayfair Inc (NYSE: W) shares are trading lower by $6.40 (8 percent) at $74.21 in Tuesday's session.

The stock, which made an all-time high ($82.17) and all-time closing high ($80.57) in Monday's session, is not being rewarded for its Q2 EPS beat of 20 cents along with a sales beat of $40 million.

Instead, Wayfair is deep in in the red in today's session.

See Also: Wayfair Excels By Any Measure After 'Blowout' Q2

When it was unable to clear Monday's close ($80.57), only reaching $80.50, profit-takers came into the stock. The quick decline took it all the way to $72.55 and is now attempting to rebound. That low coincides with both its June 29 low ($72.47) and its July 10 low ($72.66).

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